Central Bank of UAE
UAE banks face deadline for Saad & Algosaibi exposure
Tue, 2010-12-28 11:36 — newsdeskThe Central Bank of UAE has told banks to allocate provisions of 80 per cent of their exposure to the collapsed Saudi family business conglomerates Saad and Algosaibi by the end of 2010.
Central bank governor Sultan Al Suwaidi said central bank's approval of the banks' audited results for 2010 would be conditional on those provisions.
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