The UAE's central bank said on Tuesday it has set new rules capping the fees charged for retail banking services to protect consumers from unfair practises.
The fee caps will apply to consumer-related banking services including home loans and charges for late credit card payments, the bank said in a statement.
Banks must notify the Central Bank of any plans to introduce a new fee or of changes to existing fees larger than five per cent, it said. Bank fees will be reviewed annually going forward.
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The move is aimed at protecting consumers from anti-competitive or unfair banking practises, the bank said.
All the fees under the new rules are exclusive of 5 per cent VAT set by the Federal Tax Authority.
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Manchester City 3
Aguero 1', 44', 61'
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Man of the match: Sergio Aguero (Manchester City)
MATCH INFO
Uefa Champions League semi-finals, second leg:
Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE
Game is on BeIN Sports
The specs: 2018 Kia Picanto
Price: From Dh39,500
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The Greatest Royal Rumble card as it stands
50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias
Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match
WWE World Heavyweight Championship AJ Styles (champion) v Shinsuke Nakamura
Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
United States Championship Jeff Hardy (champion) v Jinder Mahal
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GULF MEN'S LEAGUE
Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2
Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers
Opening fixtures
Thursday, December 5
6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles
7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers
7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles
7pm, Pitch 5, Bahrain v Dubai Eagles 2
Recent winners
2018 Dubai Hurricanes
2017 Dubai Exiles
2016 Abu Dhabi Harlequins
2015 Abu Dhabi Harlequins
2014 Abu Dhabi Harlequins