UAE's Central Bank launches 'M-Bills' to replace certificates of deposit
Dubai: The Central Bank of the UAE has launched a new securities issuance programme - Monetary Bills - for licensed financial institutions and eligible investors. These securities will be auctioned and traded through Bloomberg’s primary and secondary market solutions and settled through a local platform - compliant with international standards - built and operated by Euroclear Bank. “The objective is to provide a holistic solution to manage liquidity within the UAE banking sector,” the Central Bank said in a statement. The launch of the Monetary Bills (M-Bills) replaces the conventio...
Source: gulfnews.com