Property Monitor
6 May 2019

Accurate data critical to UAE banks mitigating risks of loan impairments under IFRS9 guidelines

Under new International Financial Reporting Standards (IFRS) 9, all GCC banks compliant with the standards are required to break down investment portfolios into pre-defined stages. Accordingly, Stage 2 – referred to as underperforming, where credit risk has increased significantly since initial recognition – warns stakeholders to account for expected credit losses, especially since the classification could lead to business troubles […]

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