Latest news with #BankingRegulation
Bloomberg
2 days ago
- Business
- Bloomberg
Turkish Regulator Expands Scope of Retail Loan Restructuring
Turkey's banking regulator allowed more citizens to restructure debt as tight monetary policy hurts low-income households dependent on card spending. Retail credit card debt and consumer loans may be restructured with a period of as long as 48 months, the Banking Regulation and Supervision Agency said in a statement late Friday. Citizens who failed to make periodic payments toward their card debt and those unable to repay the principal or interest on consumer loans can benefit from debt restructuring. People who previously have restructured debt are also eligible, according to the statement.
Zawya
3 days ago
- Business
- Zawya
CBUAE imposes a financial sanction of AED 3mln on a bank
Abu Dhabi: The Central Bank of the UAE (CBUAE) imposed a financial sanction on a bank of 3,000,000, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations and its amendments, and Article 137 of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organisation of Financial Institutions and Activities and its amendments. The sanctions result from the CBUAE's examinations, which revealed the bank's failure to comply with the Central Bank instructions, which stipulated in the Decree Federal Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The CBUAE, through its supervisory and regulatory mandates, works to ensure that all Banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system.
