They cite several reasons, including the global move toward lower rates and loose liquidity in the UAE market. Either way, it appears to be good news for the UAE central bank, which has repeatedly urged banks to lower their quo
Interbank offered rates in the United Arab Emirates continued their slide to a new seven-year low on Thursday as liquidity in the country's banking sector remains high.
UAE bank deposits rose in April to their highest level in at least two
United Arab Emirates interbank offered rates edged down on Monday to their lowest level in nearly 17 months as regional unrest helped increase liquidity in the country's banking system.
The benchmark UAE three-month interbank offered rate
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United Arab Emirates interbank offered rates do not reflect true market lending rates and the central bank will consult with commercial banks on how to reduce them, a central bank official said.
However, commercial bankers said traded rate
Banks in the UAE have been borrowing less in the interbank market and at shorter tenors than before the Dubai crisis erupted as debt jitters weigh and the end of the year approaches, treasurers said.
Uncertainty about Dubai's ability t
United Arab Emirates interbank rates fell on Thursday, the first day they were set after the central bank took control of the fixing process in the hope it would lower the rates it has long said are too high.
In September, the central bank
The United Arab Emirates central bank said it was holding a trial run on Monday for a newly formed panel of providers for the interbank offered rate, but had delayed its start due to a server problem.
The trial run would begin later on Mon
The United Arab Emirates central bank will set up a new panel for the interbank offered rate, an official said on Wednesday, in the hope that the change will lower the rates and spur lending.
The central bank expressed dismay earlier this