UAE c bank to launch real time settlement system

UAE - The UAE Central Bank will launch the Real Time Gross Settlement System in the UAE on August 25, 2001.

The new system has already been tested in a number of UAE banks, including Abu Dhabi Commercial Bank, Citibank, Emirates Bank International, Commercial Bank of Dubai, Abu Dhabi Islamic Bank, National Bank of Ras al-Khaimah, Mashreqbank, HSBC and National Bank of Dubai. The system will allow faster and more efficient inter-bank fund transfers.

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