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ABU DHABI, 31st July, 2022 (WAM) -- The Central Bank of the UAE (CBUAE) has issued a notice to all banks and finance companies operating in the UAE on housing loans granted to beneficiaries of the Home Finance of the Sheikh Zayed Housing Programme (SZHP). The notice included details of the CBUAE decision, in agreement with SZHP and in line with Article (5) of the Regulations Regarding Mortgage Loans, issued in 2013. According to the said decision, the debt burden ratio of the beneficiaries of...

Debt Burden Ratio of beneficiaries increases from 50% to 60%

According to the said decision, the debt burden ratio of the beneficiaries of the Home Finance Program of SZHP in monthly installments out of their total salary or any income from a known specific source has been increased from 50% to a maximum 60%.