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New accounting standard governing banks’ loss reporting to come into force in 2018

Changes to the way in which banks must account for expected credit losses on their balance sheets will come into force on 1 January 2018 following the publication of a new global standard. 28 Jul 2014

United Arab Bank posts half-year profit as UAE economy gathers pace

United Arab Bank (UAB) has reported a net profit of 328 million Emirati dirham (AED) ($89m) for the first six months of 2014, an increase of 26% compared to the same period last year. 22 Jul 2014

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