Arab Today, arab today uae central bank prepares to introduce discount window
Last Updated : GMT 02:21:52
Arab Today, arab today
Arab Today, arab today

UAE Central Bank prepares to introduce discount window

Arab Today, arab today

Arab Today, arab today UAE Central Bank prepares to introduce discount window

Abu Dhabi - Arabstoday

The UAE Central Bank said on Wednesday that preparations to introduce a discount window were proceeding, though it declined to specify when the facility would be ready. Last September, the central bank announced it would develop its monetary policy framework by launching a discount window to enable banks to borrow intra-day and overnight funds. On Wednesday, central bank governor Sultan Nasser Al Suwaidi said: “It takes time of course to make studies and put systems. We are on track.” Asked whether the window might open this year, he told reporters on the sidelines of a regional central bankers’ meeting in Bahrain: “I cannot give you any date. It is not only regulations, it is computer systems. So you have to develop the right computer systems...that take different currencies into consideration.” In January last year, the UAE signed a three-year currency swap agreement with China worth Dh20 billion dirhams ($5.5 billion) to boost two-way trade and investment. Foreign reserves Asked whether the UAE was considering holding part of its foreign reserves in Yuan, in line with the growing international use of the Chinese currency, Al Suwaidi said: “It is also on track. We are studying different issues related to the swap agreement, and of course we are looking at the experiences of other countries like Asian countries that have these agreements with the Chinese.” He did not elaborate. A senior central bank official said the apex bank must act this year to push forward previously issued rules and policies, a senior central bank official said on Wednesday. Three times over the past year, the central bank has imposed regulations to limit risk at UAE commercial banks, but then backed off from enforcing them after complaints from the banks. In January, it said it would not enforce curbs on residential mortgage loans as a proportion of property values that it had set three weeks earlier. Last year it announced rules limiting banks’ exposure to state-linked borrowers, and rules requiring them to hold a certain ratio of their assets in the form of liquid instruments; both initiatives were suspended in December after discussions with banks. Exposure But Saeed Abdullah Al Hamiz, assistant central bank governor for banking supervision, said on Wednesday that the central bank needed to move ahead with its regulation. “For all policies issued, this year we must take action,” he said on the sidelines of a regional central bankers’ meeting in Bahrain. Al Hamiz said the central bank was still discussing the rule on exposure to state debt with commercial banks: “We are discussing it with the industry and we will see. I think it is important that we do not delay it.” Asked whether debt exposure rules and the mortgage caps might be implemented by the end of the year, he replied: “I think sooner for all issues. Actually we are doing it now. We are discussing it. Now within the central bank and soon with the banks.” From Gulf News

arabstoday
arabstoday

GMT 21:04 2017 Monday ,18 September

Dollar exchange rate stable at major banks

GMT 19:07 2017 Monday ,18 September

Inflation slump to hit in early 2018: ECB

GMT 20:35 2017 Sunday ,17 September

Dollar exchange rate stable at major banks

GMT 05:53 2017 Saturday ,16 September

ECB fines rescued Italian bank 11.2 mln euros

GMT 11:43 2017 Tuesday ,12 September

US sues ex-Deutsche Bank exec for securities fraud

GMT 12:03 2017 Sunday ,10 September

Bahrain introduces mandatory IESCA

GMT 11:55 2017 Sunday ,10 September

CBB hosts SWIFT users security workshop
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae central bank prepares to introduce discount window Arab Today, arab today uae central bank prepares to introduce discount window

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae central bank prepares to introduce discount window Arab Today, arab today uae central bank prepares to introduce discount window

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday