ABU DHABI: Abu Dhabi Islamic Bank (ADIB) expects to post single-digit credit growth in 2011 and the lender will continue to book provisions going forward, its chief executive said Sunday. ADIB, the second biggest Islamic bank in the United Arab Emirates, is studying the impact of new central bank rules that will limit loans to individuals and service charges, Tirad Mahmoud told reporters in Abu Dhabi. The central bank has capped personal loans at 20 times the salary or the monthly income of a borrower with a repayment period set at 48 months, it said in a statement last month. "We'll need to go through a process of adjustment and need to wait and see," Mahmoud said. "We don't see double digit growth, we don't see zero growth."UAE bank have been cautious about lending.
