Governor,

Having perused the provisions of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organization of Financial Institutions and Activities; and

Circular No. 31/2013 on Regulations regarding Mortgage Loans.

The Central Bank's Board of Directors has issued the following resolution:

Article One:
The texts of paragraphs (A.a), (A.b), (B.a) and (B.b) of Item (2) of Article (3) of Circular No. 31/2013 on Regulations regarding Mortgage Loans shall be replaced with the following texts:

A. UAE Nationals
• First House/Owner Occupier
Each borrower can only claim one property under this category.

1. a. Value of Property less or equal to AED 5 million - maximum 85% of the value of the property.

2. b. Value of Property more than AED 5 million - maximum 75% of the value of the property.

B. Expatriates
• First House/ Owner Occupier
Each borrower can only claim one property under this category.

1. a. Value of Property less or equal to AED 5 million - maximum 80% of the value of the property.

2. b. Value of Property more than AED 5 million - maximum 70% of the value of the property.

Article Two:
This Resolution shall be communicated to whomsoever is concerned for implementation, and shall be published in the Official Gazette in both Arabic and English.