Central Banking

Central Bank of UAE opens first ever discount window

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The Central Bank of the United Arab Emirates (CBUAE) will open its first ever discount window on Tuesday, offering 49 banks overnight liquidity against a wide range of collateral, including government treasuries and Islamic sukuks.

The central bank announced the introduction of the new Interim Marginal Lending Facility (IMLF) in a letter circulated to banks on April 3 and later published on the CBUAE website.

It said banks would be able to access funds from the central bank on an overnight basis

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