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UAE s Central Bank to launch M-Bills to replace certificates of deposit
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UAE Central Bank to introduce Monetary Bills
21 Dec 2020 Business Bureau,
Gulf Today
The Central Bank of the UAE (CBUAE) announced on Monday that effective 11th January, 2021, a new securities issuance programme to licensed financial institutions and eligible investors, named Monetary Bills (M-bills) will be introduced. 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.
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CBUAE to launch Monetary Bills in collaboration with Euroclear and Bloomberg
12/21/2020 | 05:01am EDT
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Message : CBUAE to launch Monetary Bills in collaboration with Euroclear and Bloomberg Abu Dhabi (21 December 2020) The Central Bank of the UAE (CBUAE) announced today that, effective 11 January 2021, a new securities issuance program to licensed financial institutions and eligible investors, named Monetary Bills (M-bills) will be introduced. 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 program 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 program, represents another important milestone towards the implementat
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