UAE Central Bank launches framework to improve oversight of real estate lending The new standards cover all types of on-balance-sheet loans and investments and off-balance-sheet exposure to the real estate sector, the regulator said in a statement on Monday. Improved regulation will allow the adoption of best practice in bank real estate financing and risk management, the CBUAE said “The CBUAE has developed a novel, risk-based methodology to enhance monitoring and supervision of bank real estate exposures," said Khaled Balama, governor of the CBUAE. "These new standards will enhance best practice in real estate financing in the UAE and facilitate the safety and soundness of our financial system.” Lenders in the country will continue to play a "crucial role" in financing real estate and construction sectors, which are key parts of the UAE economy, he said. UAE banks’ lending to the real estate sector grew by 7.4 per cent in 2020, slower than 7.9 per cent recorded...
Business,Real Estate,Investment in Dubai