ID :
20739
Tue, 09/23/2008 - 13:04
Auther :
Shortlink :
https://oananews.org//node/20739
The shortlink copeid
UAE Central Bank avails Dh50 billion for local banks
Abu Dhabi, Sept 23, 2008(WAM)--The UAE Central Bank has decided to avail facilities worth Dh 50 billion for the use of banks operating in the UAE.
In a statement, the Central Bank announced that its Board of Directors has discussed the position of inter-bank deposits, which has been affected by the liquidity constraints in international money markets.
To remedy this situation, the Central Bank it decided to set up a facility amounting to Dh50 billion for banks operating in the UAE, to be used by these banks if so needed.
The Central Bank expects that these funds would meet banks needs for supporting continued financing of economic growth.
The Board of Directors of the Central Bank has also reviewed additional resources available with Central Bank for providing further support to banks operating in the UAE if required.
In a statement, the Central Bank announced that its Board of Directors has discussed the position of inter-bank deposits, which has been affected by the liquidity constraints in international money markets.
To remedy this situation, the Central Bank it decided to set up a facility amounting to Dh50 billion for banks operating in the UAE, to be used by these banks if so needed.
The Central Bank expects that these funds would meet banks needs for supporting continued financing of economic growth.
The Board of Directors of the Central Bank has also reviewed additional resources available with Central Bank for providing further support to banks operating in the UAE if required.
