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UAE Central Bank increased capital protection to 2.5%

UAE Central Bank increased capital protection to 2.5%
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Abu Dhabi – Mubasher: The Central Bank of the United Arab Emirates has aked local banks across the country to increase their capital protection reserves from 1.875% in 2018 to 2.5% in 2019. 

The UAE central bank explained the new measurements as per the new selective policies to apply the Basel III Countercyclical Capital Buffer, with the aim of supporting banks’ financial positions. 

Minimum right public ownership will remain at 7% next year, with the minimum capital level at the same level at 8.5%.