The recommendation from the BIS was made prior to the US Federal Reserve’s first interest rate cut in four years
Driven by technology, various platforms are offering an interface that is secure and transparent, along with financing options from multiple lenders
Inflation has now been running below the Fed’s target on a seven-month basis while US economic growth and the job market have remained largely intact
The bank reported strong growth numbers as its retail and corporate businesses reflected growth and diversification in business
The notice was issued following approval from the Central Bank of UAE’s board of directors, with the measures coming into effect from July 1
The US Federal Reserve raised its key interest rate by 50 basis points
Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, HSBC, and Standard Chartered Bank were mandated to manage the issuance process