UAE central bank issues first license to low-risk specialized lender
Published 08 Apr,2021 via Arab News - Economy - ABU DHABI - The Central Bank of the United Arab Emirates has issued its first license under a system of low-risk specialized banks designed to serve UAE residents, WAM reported.
The central bank set the maximum total assets for low-risk specialized banks at not more than 25 billion dirhams, Al Roeya paper reported.
Citizens’ ownership should not be less than 60 percent of the paid-up capital, and no single ownership in the specialized bank should exceed 20 percent of the total shares, unless an exception is granted by the central bank.
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