The Central Bank is reviewing the number of Emirati borrowers who have defaulted on debts after a presidential decree immunised them from serving jail time for writing a bad security cheque.
The review comes as one local lender points to increased numbers of nationals falling behind on their loan repayments since the decree in October.
"It's an ongoing review," said Sultan Al Suwaidi, the governor of the Central Bank, on the sidelines of a conference in Abu Dhabi.
"We have a special division for consumer protection, and they will start issuing statistics."
Read more: http://www.thenational.ae/thenationalconversation/industry-insights/finance/central-bank-reviewing-extent-of-debt-default-of-emirati-borrowers#ixzz2MC04ckie
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