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EBA concludes proposal on mortgage loans cap
BY OUR BUSINESS BUREAU January 18, 2013
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DUBAI: The CEOs Advisory Council of the Emirates Banks Association (EBA) has discussed Central Bank notice on mortgage loans cap during its second consultative meeting this year in Dubai, where the council approved the proposal that has been drafted by the Consumer Banking Sub-Committee recommending to amend some rules listed in the notice concerning the maximum Loan To Value ratios permitted for Mortgage Loans to UAE Nationals and expatriates, and decided to send it to the Central Bank for consideration.

The meeting was headed by AbdulAziz Abdulla Al Ghurair, Chairman of Emirates Banks Association, where key topics and recent updates related to banking industry were reviewed, primarily the mortgage loans cap to UAE Nationals and expatriates, he  praised the ongoing co-operation between the Emirates Banks Association and the Central Bank in various issues related to the banking sector in order to serve interest of the national economy.

In its first meeting in 2013, CEOs Advisory Council of the Emirates Banks Association asked the consumer banking sub-committee to prepare a comprehensive proposal approved by all members.
 

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