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Islamic Finance Briefing - Categorized | Banking, Financial Instruments (Credit Cards, Debts, Loans, Mort more

UAE Islamic certificates auction successful: central bank

Posted on 16 November 2010

From Khaleejtimes.com: The Central Bank of the UAE has announced the successful inaugural auction of Shariah-Compliant Certificates of Deposit (ICDs), a move which will allow Islamic lenders to better manage their short term liquidity.
Islamic banks operating in UAE have started participating in the auction of these Certificates for tenors from 1 week to 12 months, the central bank said in an announcement……………………………………….Full Article: Source

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