Bahrain launches new repo instrument to foster interbank lending
Move comes after IMF directors back government’s attempt to diversify oil-based economy
The Central Bank of Bahrain launched a new interbank repo mechanism on December 9, in an attempt to foster local interbank lending.
The mechanism allows commercial banks to sell their government securities to other banks in exchange for liquidity. The central bank’s Scripless Securities Settlement (SSS) and Real Time Gross Settlement (RTGS) systems transfer and settle the securities and funds.
“This tool will help conventional retail banks borrow from the local market at lower interest rates
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