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2013 saw the Central Bank of Oman enact regulation which reduced the interest ceiling of personal and housing loans from 7 per cent to 6 per cent.
An improving security environment and foreign investment are helping to spur economic activity in Iraq. most notably in the Oil and Gas and Islamic Finance sectors.
There was a significant increase in Jordan's public debt towards the end of 2013 and initiatives have been taken to strengthen banking supervision and develop capital markets.
2013 saw the enactment of the new Central Bank Law which is a comprehensive overhaul of the legislation that existed previously
Recent developments in 2013 with respect to the banking and financing sector saw the Kuwait Government pass Law No. 106 of 2013 Regarding the Combating of Money Laundering and Financing of Terrorism...
The financial market in the Kingdom has seen increased regulation and supervision from the Saudi Arabian Monetary Agency across a number of sectors.
The financial market in the UAE has seen increased regulation and supervision from the Central Bank leading to greater intervention.
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