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Article: Banks Told to Come Clean.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- October 2, 2009
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Summary: ABU DHABI u There was a flurry of submissions by the banks listed on the Abu Dhabi Securities Exchange, or ADX, on Wednesday after a directive from the market regulator, the Securities and Commodities Authority, to provide details of their exposure to troubled Saudi conglomerates Saad Group and Al Gosaibi.
Similarly, the Dubai Financial Market, or DFM, has also asked the banks listed on its exchange to disclose the provisions taken in their third quarter C financial statements.
The directives from the regulators came after Sultan bin Nasser Al Suwaidi, Governor of the UAE Central Bank, disclosed on Monday that 13 local banks have exposure to ...