UAE concession to foreign banks

UAE - Foreign banks in the United Arab Emirates are to receive a concession under a new central bank law to be issued early next year.

Sultan al-Suwaidi, the central bank governor, has announced that the minimum paid-up capital for the country's 47 local and foreign banks will be raised to Dh100m (£17.2m, €26.9m, $27.2m) from Dh40m, Reuters reported.

However, he stipulated that "for certain foreign banks, we will accept a guarantee from their head office that this minimum level of capital is

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: