UAE to introduce new interbank rates system on April 15- sources

March 20, 2018 1061
The new system will shrink the panel of banks whose quotes are used to calculate the rates to eight banks from 10, the sources said.

ABU DHABI- The United Arab Emirates central bank will introduce a new way of setting Emirates Interbank Offered Rates (EIBOR), helping to make the system more accurate and transparent, on April 15, banking sources told Reuters on Monday.

The new system will shrink the panel of banks whose quotes are used to calculate the rates to eight banks from 10, the sources said.

There was no immediate comment from the central bank.


Zawya