Fitch: Liquidity Initiatives Benefit Bahrain, UAE Islamic Banks

April 7, 2015 2:25 PM

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(The following statement was released by the rating agency) DUBAI/LONDON, April 07 (Fitch) The April launch of one-week sharia-compliant contracts with the central bank will benefit Bahrain's Islamic banks because they broaden the range of options available for short-term liquidity management, says Fitch Ratings.

The UAE's central bank has also extended the range of instruments it accepts as collateral for accessing liquidity to include sharia-compliant securities. This will help the UAE's Islamic banks, which often hold these securities. Bahrain and UAE-based Islamic banks have so far held excess liquidity ...

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