TITLE

Saudi Arabia and UAE move to ease interbank lending rates

AUTHOR(S)
Martin, Matthew
PUB. DATE
October 2008
SOURCE
MEED: Middle East Economic Digest;10/24/2008, Vol. 52 Issue 43, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the $24 billion rescue package with local banks in a bid to cut soaring interbank lending rates in Riyadh, Saudi Arabia and Abu Dhabi, United Arab Emirates (UAE). It states that the UAE's Finance Ministry is distributing $19 billion among domestic banks, with the amount being deposited at each bank based on the size of its assets. While the Saudi Arabian Monetary Authority has deposited $5 billion into its banks on a similar basis.
ACCESSION #
35418334

 

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