UAE Central Bank will come up with new rules to control bank fees

Governor Sultan bin Nasser Al Suweidi has informed that the UAE Central Bank has planned to introduce a new set of regulations. This has been done to prevent the country’s banks from charging excessive fees and commission from the customers.

The Central Bank will be overruling to drive bankers to regulate their fees and commission rates as stated by the governor.  Al Suweidi has said in Dubai that the banks have increased their fees and commission rates but the interest rates are still the same.

The introduction of a new set of regulations will be intruded by the central bank because matters are getting unmanageable day by day.

He has also added that, in the banking system the liquidity position has been increasing with time.

He would like to follow the point that there is increased liquidity. He has also shown the number of Certificates of Deposit at the central bank that has been increasing.