Tuesday, May 24, 2005

CB to 'name and shame' if banks repeat mistake - Khaleej Times: "Industry sources said some banks other than those penalised were “uncomfortable” with the Central Bank's decision of not revealing the names of the four banks, saying ‘moral penalties’ are also needed in such cases....“By declining to identify the banks it put all banks in an unfavourable situation and left a negative impact on the stock market,” said Ziad Al Dabbas, manager, domestic capital markets, National Bank of Abu Dhabi (NBAD). "

Declining to name the offenders is collective punishment. Good banks are being held accountable for the actions of the offending banks.

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