Wednesday 12 December 2018
 
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Central Bank

UAE letters of guarantee hit $3.45bn in 9 months

The letters of guarantee issued by banks and other business entities in the UAE amounted to Dh12.7 billion during the first nine months of 2018, a growth of 15 per cent as compared to the end of 2017, a media report said. In Septe

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UAE banks open 50 new ATMs in 12 months

The past 12 months saw the introduction of 50 new automatic teller machines (ATM) across the country, reported state news agency Wam, citing Central Bank of UAE statistics. The continual rise in ATMs reflects the UAE bank

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New UAE law enhances Central Bank role

UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a key Federal Decree concerning the Central Bank and organisation of financial institutions and their activities.   The law represents a pa

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UAE’s Eibor hits new high of 48.6pc

The interest rates charged by the Emirates Inter-Bank Offered Rate (Eibor) hit new highs of 30.7- 48.6 per cent across all terms since the beginning of the year, a media report said. The interest hike is attributed to the US Feder

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Saudi central bank raises key rates

Saudi Arabian Monetary Authority (Sama) has decided to raise its reverse repo rate from 200 basis points to 225 basis points and its repo rate from 250 basis points to 275 basis points, effective immediately.   T

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UAE foreign currency reserve tops $89bn

The total foreign currency assets held by the Central Bank of the UAE (CBUAE) surged to Dh329.5 billion ($89.7 billion) during August from Dh326.4 billion in April, a media report said. Current account balances rose and deposits w

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UAE's expat deposits surge $16.6bn more than loans

The UAE's non-resident deposits out-valued their loans by Dh61 billion ($16.6 billion) during the first seven months of the year driven by the increasing deposits by expat clients into local banks, reported state news agency Wam cit

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Oman Q1 trade balance jumps 48pc to top $3.2bn

Oman’s trade balance — the difference in value between its exports and imports — reached RO1.266 billion ($3.28 billion) during the first quarter (Q2) of this year as against RO857 million in Q2 2017, marking a growth of nearly

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1,200 experts to gather for 25th WIBC in Bahrain

Over 1,200 global Islamic banking and finance leaders, industry powerhouses and policy makers will converge for the upcoming 25th edition of the World Islamic Banking Conference (WIBC) set to take place in Bahrain in November. Hel

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UAE banks handle over 12m cheques in 5 months

The number of cheques that passed through the UAE’s cheque clearing system reached 12.060 million during the first five months of 2018, with a total value of around Dh592 billion($161.2 billion), a media report said. The val

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