Central Bank of UAE opens first ever discount window
Banks will have access to central bank funds from April 15
The Central Bank of the United Arab Emirates (CBUAE) will open its first ever discount window on Tuesday, offering 49 banks overnight liquidity against a wide range of collateral, including government treasuries and Islamic sukuks.
The central bank announced the introduction of the new Interim Marginal Lending Facility (IMLF) in a letter circulated to banks on April 3 and later published on the CBUAE website.
It said banks would be able to access funds from the central bank on an overnight basis
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