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Dubai Eyes MBS Market In UAE

The Dubai International Financial Center has begun the process of establishing a market for mortgage-backed securities in the United Arab Emirates to help kick-start the UAE real estate sector, reports The National.

The Dubai International Financial Center has begun the process of establishing a market for mortgage-backed securities in the United Arab Emirates to help kick-start the UAE real estate sector. Dubai plans to model its MBS market after that of Denmark’s, partnering with its Absalon Project to conduct a feasibility study for private residential mortgages backed with standardized bonds. The Danish model was chosen, according to Dr. Nasser Saidi, chief economist of the DIFC Authority, because investors in MBS in Denmark has never suffered a loss from a loan default.

Click here to read the story from The National.

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