UAE moves to boost the liquidity of Shariah-compliant banks

06/30/2010 | Emirates Business 24/7 (United Arab Emirates)

The United Arab Emirates is developing a liquidity facility to help Islamic banks meet their short-term financing requirements. A committee of the central bank said it is also working on a Shariah-compliant financial instrument that could be used by Islamic banks the way conventional banks employ certificates of deposit to park funds at the central bank.

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Emirates Business 24/7 (United Arab Emirates)

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