U.A.E. Central Bank Is Studying Mortgage Law, Al Bayan Reports

The United Arab Emirates central bank is considering a mortgage law that would stipulate real- estate records, guarantees and a dispute resolution mechanism, Al Bayan reported, citing Central Bank governor Sultan Bin Nasser Al-Suwaidi.

The aim of the law is to encourage banks to accept homes as preferred collateral for debt, the newspaper cited the governor as saying.

To contact the reporter on this story: Zainab Fattah in Dubai at zfattah@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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