Central Banking

UAE central bank launches real time settlement

UAE - The UAE Central Bank launched its new Real Time Gross Settlement System in UAE's Citibank and Abu Dhabi Commercial Bank on August 25, 2001.

The Central Bank has tested the new system in nine banks, including Emirates Bank International, Commercial Bank of Abu Dhabi, Abu Dhabi Islamic Bank, National Bank of Ras al-Khaimah, Mashreqbank, HSBS and National Bank of Dubai. The telex method of inter-bank fund transfers will be discontinued within three months from the date the new system is

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