Monday, February 28, 2005

Central Bank warns against share payment for new IPOs - Khaleej Times

DUBAI - In a circular dispatched to all the UAE national and foreign banks, UAE Central Bank yesterday asked them to cease lending individuals and corporate sector to pay for shares in the new IPO that is expected to hit the market in the beginning of March, a senior banking official told Khaleej Times.The Central Bank will crack down on banks to make sure that these institutions are adhering to the circular's directions, he added.
...
The Central Bank has already geared itself up to face the problem by forming a committee to follow up the matter, he said.
Yes, you can't enforce what you are not prepared to enforce.

1 Comments:

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12:16 PM  

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