UAE central bank hails new financial stability remit
Financial stability report notes NPL levels have risen, but banks are also making larger provisions
The Central Bank of the United Arab Emirates says new powers over financial stability are a major step forward for its ability to ensure the resilience of the financial sector.
Writing in the introduction to the latest financial stability report, published in early July, governor Mubarak Rashed Al Mansouri said the law change in 2018 “significantly reinforces” the central bank’s role and regulatory powers. As well as establishing a formal financial stability mandate, the law also created a
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