While the number of companies writing off
large amounts of goodwill has decreased five years later, neither the magnitude of the write-offs nor the disclosure of the facts and circumstances surrounding the write-offs seems to have changed.
He said Mashreq's card NPL rates seemed high because it opted for the international practice of writing off
a card debt after 150 to 180 days of non-payment of instalments, whereas many banks follow the UAE Central Bank's cut-off, writing off
a bad loan only after 360 days.
The court also sought a complete list of the people who managed to get their loans written off through the SBP since 1971 and directed authorities concerned to furbish the details of the findings of a committee constituted to investigate the writing off