From Arabianbusiness.com: UAE’s central bank plans to launch new liquidity facilities within the next three months to expand its policy arsenal and help the Gulf state’s Islamic banks manage cash, a senior official said on Wednesday.
Speaking to Reuters, Mohamed al Tamimi, deputy executive director at the central bank’s treasury department, said: “I believe that we are the first central bank in the region to issue Islamic certificates of deposit with maturities of one week up to one year.”…………………………………….Full Article: Source