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Tag Archives: central bank

Scandal hits Erdogan house with son-in-law’s cabinet resignation

The abrupt resignation of Tayyip Erdogan’s son-in-law from one of Turkey’s most powerful cabinet positions shocked the government and angered some ruling party members who say the nature of his departure damages the president. Finance and Treasury Minister Berat Albayrak oversaw economic policy for two tumultuous years during which Turkey …

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Interest rate swaps on rise in UAE

Ten-year term interest rate SWAPs maintained an upward movement in 2018, spiking to 4.39 percent in mid-November from 3.7 percent in early January before rebounding to 4.15 percent by the end of the year, statistics by the Central Bank of the United Arab Emirates have shown. Interest rate swaps are …

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UAE to flood market with banknotes for Eid

Central Bank of the UAE (CBUAE) regularly ensures all banks operating in the UAE are provided with new bank notes to meet the needs of their customers during festive seasons. ”As Eid Al Fitr approaches, CBUAE has instructed all banks to ensure cash exchange services are well taken care of …

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Outbound remittances from UAE hit more than Dh43 billion

Expatriates in the UAE continue to send more of their earnings back to their home countries as the US dollar holds strong against several currencies, with remittances in the last quarter alone reaching Dh43.2 billion. According to the figures released by the UAE Central Bank, outgoing money transfers went up by Dh1 …

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