Central Bank of the UAE
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.
Asia makes rate cut 'truly global'
China cut rates for the second time in as many months on Wednesday, supporting the joint action by six of the most important central banks to loosen policy. A host of other Asian central banks have also replicated the Federal Reserve-led move.
Saudi soothes markets as Gulf liquidity woes mount
The Saudi Arabian Monetary Agency on Thursday became the third central bank in the Gulf this week to counter money-market fears of a liquidity shortage.
UAE launches emergency facility
The Central Bank of the United Arab Emirates on Monday became the latest monetary institution to inject funds to alleviate interbank tensions, pledging Dh50 billion ($13.6 billion).