UAE Central Bank launches intraday liquidity facility khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
By Gulf News 2021-02-05T09:43:00+00:00
The UAE economy poised for a fast recovery from the impact of COVID-19 and an overall transformation, according to the Institute International Finance.
Although the economic recovery in 2021 is expected to be limited, the IIF believes it is going through some fundamental transformation that will help it its future growth
“We expect modest economic recovery in 2021 with real GDP growing by 2.3 per cent, following a contraction of 5.7 per cent in 2020. The recovery will be supported by the partial recovery in domestic demand and an increase in net exports. Our projections assume that the pandemic will be contained, and oil prices pick up to $52$/bbl in 2021,” said Garbis Iradian, Chief Economist, MENA, IIF.
UAE launches M-Bills in collaboration with Euroclear, Bloomberg
ABU DHABI, December 21, 2020 The Central Bank of the UAE (CBUAE) has announced that a new securities issuance programme to licensed financial institutions and eligible investors, named Monetary Bills (M-bills) will be introduced effective January 11 next year. These securities will be auctioned and traded through Bloomberg’s primary and secondary market solutions and settled through a local platform, compliant with international standards, built and operated by Euroclear Bank. The objective of the new issuance programme is to provide a holistic solution to manage liquidity within the UAE banking sector. The launch of the M-Bills, replacing the existing conventional certificates of deposit programme, represents another important milestone towards the implementation of the new Dirham Monetary Framework announced earlier this year.
UAE launches M-Bills in collaboration with Euroclear, Bloomberg
ABU DHABI, December 21, 2020 The Central Bank of the UAE (CBUAE) has announced that a new securities issuance programme to licensed financial institutions and eligible investors, named Monetary Bills (M-bills) will be introduced effective January 11 next year. These securities will be auctioned and traded through Bloomberg’s primary and secondary market solutions and settled through a local platform, compliant with international standards, built and operated by Euroclear Bank. The objective of the new issuance programme is to provide a holistic solution to manage liquidity within the UAE banking sector. The launch of the M-Bills, replacing the existing conventional certificates of deposit programme, represents another important milestone towards the implementation of the new Dirham Monetary Framework announced earlier this year.
Dubai: The Central Bank of the UAE has launched a new securities issuance programme - Monetary Bills - for licensed financial institutions and eligible investors. These securities will be auctioned and traded through Bloomberg’s primary and secondary market solutions and settled through a local platform - compliant with international standards - built and operated by Euroclear Bank.
“The objective is to provide a holistic solution to manage liquidity within the UAE banking sector,” the Central Bank said in a statement. The launch of the Monetary Bills (M-Bills) replaces the conventional certificates of deposit (CD) programme and marks a milestone towards the implementation of the new Dirham Monetary Framework announced earlier this year.