The United Arab Emirates central bank is studying ways to replace the local interbank rate, three sources said, as it tries to catch up with global regulators who have called time on such benchmarks after banks’ attempts to rig them. The UAE is looking at potential replacements for EIBOR — the Emirates Interbank Offered Rate which is used to price financial instruments in the Gulf’s top financial centre — and has started consultations with commercial banks in recent weeks, said three sources familiar with the matter. The London Interbank Offered Rate (Libor) and other similar “IBOR” benchmark rates are based on quotes from banks on how much it would cost to borrow money from each other. The
Hence then, the article about uae central bank working to replace interbank rates was published today ( ) and is available onٌRayaٌ news ( Qatar ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( ‘UAE central bank working to replace interbank rates’ )