Latest News

We understand the importance of availability, and we act on it.

CI Affirms UAE Ratings: Outlook Stable


Capital Intelligence said the UAE banking system is broadly sound with high levels of capitalization.

International credit ratings agency Capital Intelligence, or CI, has affirmed the UAE’s long-term foreign and local currency sovereign ratings of AA- and its short-foreign and local currency sovereign ratings of A1+ after taking into account key economic and financial indicators.

The outlook for the rating is stable, meaning it is likely to remain unchanged over the next 12 months, provided that key metrics evolve as envisioned in CI’s baseline scenario and no other credit quality concerns arise. The ratings reflect the overall strength of the UAE’s public and external finances and the resultant capacity to absorb economic shocks; moderate levels of public debt; and generally favourable macroeconomic performance, CI said in a statement. It noted that the consolidated budget surplus of the UAE declined in 2014 to 2.2 per cent (9.9 per cent in 2013) due to the decrease in international oil prices.

CI said the UAE banking system is broadly sound with high levels of capitalization. Although asset quality is improving, the share of non-performing loans in gross loans remains comparatively high, partly due to the problems of the real estate sector in the major emirates and the ongoing financial restructuring of loans owed by a few GREs. Liquidity ratios have improved in recent years and several banks have comfortably repaid the Tier 2 debt capital placed by the government in the early days of the financial crisis. Credit growth regained momentum in 2014, while the rules on credit concentrations introduced by the Central Bank of the UAE have helped to cap the exposure of banks to the real estate market.

You might also like...
UAE: MASK FREE Except for 3 Public Areas
Starting Wednesday, September 28, mask-wearing is optional for all "open and closed facilities and spaces", except for hospitals and medical facilities, mosques, and public transportation means like buses, Dubai Metro and Dubai Tram.
read More
Beware of Big Ticket Abu Dhabi’s Scammer Account
Organizers of the popular mega raffle draw Big Ticket Abu Dhabi have issued a fraud alert, warning the public of a fake social media account that claims to be its "second account" and bears the handle "@bigtiicketauh".
read More
Digitisation of RTA Licensing Services
'Click and Drive' will digitise the entire process of obtaining drivers' licenses, including a first-of-a-kind mobile eyesight testing service in the region that is currently run by Al Jaber Optical.
read More
Thanks, got it!
Something went wrong, please try again.

Use our online calendar to set up your own appointment and connect to an elawyer for a consultation.