The UAE's central bank has unveiled new guidelines regarding provisions and loans in line with the Basel Committee on Banking Supervision standards. "All banks and other financial institutions are required to make provisions, specific or general, required for this regulation and deduct them from the profit and loss account at the end of each quarter and not delay them till the end of the financial year," the central bank said in a statement. The guidelines will "serve as a catalyst in depicting a truly realistic financial position of banks and other financial institutions," it said.