Regulator is reviewing regulation on bank lending against shares
The UAEs Securities & Commodities Authority (SCA) plans to review regulation on bank lending against shares, it said in a statement after a meeting between the heads of the SCA, central bank and Abu Dhabi and Dubai exchanges.
It will also set up a technical committee to monitor the markets activities.
The announcement follows the plunge in Arabtec Holdings share price, which quadrupled in the first four months of the year before dropping in May and June. The uncertainty surrounding the stock has caused criticism from investors demanding greater transparency.
On 3 July, the SCA said it is also investigating whether companies listed on the UAEs stock markets meet the standards of regional regulation and international best practice. It urged investors to make decisions based on financial analysis rather than market rumours.
Download the MEED app today from the Apple store and the Google Play store
You might also like...
UAE firm breaks ground on Kezad food facility
17 May 2024
Chinese firm signs National Housing Company deal
17 May 2024
Two bid for 90-100MW Bahrain solar contract
17 May 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.