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In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in.

Abdul Aziz Al Ghurair

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These are customers with genuine needs, and the role of the bank is to accommodate these customers, and there is a real need to reschedule the loans of these customers.
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Such innovations have given Dubai a competitive edge and an accelerated growth rate that few could match.
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Sometimes there are customers who get in difficulty because of situations that are out of their control.
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Banks are concerned the central bank is imposing too many regulations. If the trend continues, we’ll swing to heavy regulation.
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Dubai’s world class physical infrastructure has already established it as a major player in terms of trade tourism and as the leading conference and exhibition venue in this part of the world.
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One of the main characteristics that differentiates Dubai from other commercial centres is its openness to innovation and the freedoms it grants people and institutions to operate.
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On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.
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