Financial and Banking News
UAE Central Bank To Issue Medium Term CDs
The Central Bank of the UAE has announced that it will start issuing nine, 12and 18-month CDs from 1 April. Banks will be able to sell the CDs to the CentralBank at any time. The Central Bank currently issues CDs in local currency forone, two, three and six months, but there is no repurchase facility and the CDsare therefore not liquid instruments. The announcement of longer-term...