Saudi Arabia's central bank said on Sunday it has decided to inject around SR20 billion ($5.33 billion) in time deposits into the banking system to boost financial stability.
It has introduced two new maturity periods for repu
Egypt is to receive a $2 billion deposit from Saudi Arabia, International Cooperation Minister Sahar Nasr said on Thursday.
She did not specify when the money was expected to arrive, saying in a message: "We only signed ... t
The Dubai Commodities Clearing Corporation (DCCC), the central counter-party (CCP) for the Dubai Gold and Commodities Exchange (DGCX), said that clearing members will now be able to deposit cash collateral to the corporation in the form of eur
Egypt's central bank removed caps on Tuesday on how much individuals can withdraw or deposit in foreign currencies at banks, a move aimed at boosting liquidity in a market that has been starved of dollars.
Egypt, which relies
The slowdown in deposit growth to 1 per cent in 2015 from 12 per cent in 2014 and the sharp decline in oil prices as wells as a 14 per cent reduction in the 2016 Saudi government budget are credit negative for Saudi banks, Moody's has said.
Saudi Arabia's government faces a challenge in creating a system to insure bank deposits without shaking the confidence of depositors, an international banking watchdog warned.
The government's Supreme
The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE authorities.
Oman's two full-fledged Islamic banks have yet to post a profit but their customer deposits are surging, increasing pressure on authorities to develop sharia-compliant money market tools and make a long-awaited issue of Islamic bonds (sukuk)
The Egyptian central bank has struck another blow against the country's unofficial currency market, with a cap on the amount of dollars that can be deposited in banks, private bankers and a central bank source said.
The cap on
Egypt will repay a $2.5 billion deposit to Qatar at the end of November, bringing to $6 billion the deposits it has returned to the Gulf country since last year's ouster of Islamist President Mohamed Mursi, a central bank source said on Thur