The Central Bank of the UAE, CBUAE, has announced that, as of Thursday March 16th, it will raise interest rates applied to the issuance of its Certificates of Deposits, in line with the increase in interest rates on the US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting, as of today.
"The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been increased by 25 basis points to 1.25%," the bank added.
Certificates of Deposit, which CBUAE issues to banks operating in the country, are the monetary policy instrument through which changes in interest rates are transmitted to the UAE banking system.
GMT 19:29 2018 Monday ,15 January
Central Bank issues commemorative coin for Dh189GMT 18:36 2017 Wednesday ,29 November
Islamic banking assets surge 6 percent to AED535 billionGMT 12:46 2017 Tuesday ,28 November
Ministry of Finance announces VP's signing of VATGMT 13:38 2017 Monday ,27 November
ADX holds second annual forum for listed companies this yearGMT 09:51 2017 Sunday ,26 November
RAKBANK introduces new savings deposit accountMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor