UAE creates swap lines for local banks

The Central Bank of the United Arab Emirates (UAE) is to provide currency-swap facilities for the UAE dirham and the US dollar to local banks in a bid to inject more liquidity into the country's banking system.

The move is the latest in a series of initiatives aimed at improving liquidity in the country's banking system, which has deteriorated since the collapse of Lehman Brothers, an American investment bank, in September.

The swap facilities will enable the central bank to buy dollars against

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: