No 35



UAE Central Bank To Introduce Real Time Settlement

The Central Bank of the UAE hasannounced that it is to launch a Real Time Gross Settlement System to providemore efficient and immediate interbank fund transfers in the UAE. According toa report in the Khaleej Times on 19August, the Central Bank has issued a circular to domestic banks declaring thatthe new Fund Transfer System will go live with effect from 25 August with agroup of banks that have already been...