The Central Bank of the UAE announced that it will provide UAE banks and foreign bank branches operating in the country with additional liquidity facilities linked to their accounts at 50 basis points above 3-month EIBOR. The Central Bank stated that the UAE banking system is more sound and liquid than a year ago, with foreign interbank deposits and MTNs/ECPs issued by UAE banks reduced by 25%. The UAE banking system consists only of retail commercial banks and has a stable deposit base, allowing it to weather the global financial crisis well.
The Central Bank of the UAE announced that it will provide UAE banks and foreign bank branches operating in the country with additional liquidity facilities linked to their accounts at 50 basis points above 3-month EIBOR. The Central Bank stated that the UAE banking system is more sound and liquid than a year ago, with foreign interbank deposits and MTNs/ECPs issued by UAE banks reduced by 25%. The UAE banking system consists only of retail commercial banks and has a stable deposit base, allowing it to weather the global financial crisis well.
The Central Bank of the UAE announced that it will provide UAE banks and foreign bank branches operating in the country with additional liquidity facilities linked to their accounts at 50 basis points above 3-month EIBOR. The Central Bank stated that the UAE banking system is more sound and liquid than a year ago, with foreign interbank deposits and MTNs/ECPs issued by UAE banks reduced by 25%. The UAE banking system consists only of retail commercial banks and has a stable deposit base, allowing it to weather the global financial crisis well.
Central Bank of the UAE announced & j S p ! l id\ d v
&lJb'$\ &\ today that it stands behind UAE banks and e3+ k j l J ~ y$4\ \ 6 A, ej\?&\ branches of foreign banks operating in the .&\JLY\ a$> L M \2&\ 441 UAE .
Central Bank has issued a Notice to UAE
& JU'$+JJ\ ! G+\ Ju\ JA 9 banks and branches of foreign banks &U\ dpl\ r 3 j dpl\ operating in the UAE, making available to b b d+ '&\JLY\ u.9@ them a special additional liquidity facility -b+* @L l ; S b j Up J?grj (;ifdl linked to their current accounts at the d2 41ISd A GJw\ 4,111 C ~ Q LY! Central bank, at the rate of 50 basis points @&\ a 50 bJs5 d ~ 4 G ~ ~ above the 3 months EIBOR. J3IAI y ) J&\ J ~y~ 64 I .( &\JLY\ 2 d$\ &
The Central Bank stated that the UAE & @>A\~
i dp l 3 Lj 3 Banking System is more sound and liquid & ci. &b$1 $ l J ~.. ~ \ 6 341 than a year ago, with foreign interbank ~ b y ~-. h 9 4 411 @lJ3 ' L deposits and MTNs I ECPs issued by UAE banks stand reduced by 25 % . d4, sJJm, bv\ 5A \- A &+JM\JL.n 31r\ &$\JLYI
UAE Banking System is comprised of & 2 $IJ@\3
. 41 eLlbill d f i retail commercial banks only, with a +;&& ' ~ 1 9 3+ 1 bJ@ 4~ strong base of stable deposits, the best 441 l b 3' a\ t;lJj\ banking model that weathered the current bb,A +L ii bj ~x Global Financial Crisis. .LplMI 2&dI L jv\ From the consolidated balance-sheet of @\JJ\ &Si'' 4 4 1- j l d l &3 banks, Interbank deposits of the UAE +IL Y' I ~JA..J\ p 3 . I d+\ &+ L+i Banking System constitute 10.3 % of the w ' ~ k 3 k ~ 1 % 10.3 ~gr. uju liabilities side, with foreign interbank .l& % 5 *v\ 441 deposits constituting 5 % only.