[ad_1] UAE and Bahrain sign currency swap agreement worth AED 20 billion/Image: WAM The United Arab Emirates and Bahrain have signed a currency swap agreement worth AED 20 billion (BHD 2 billion), marking a step towards closer financial cooperation and stronger economic ties between the two countries. The agreement, signed during a virtual ceremony, brings […]
[ad_1] The UAE executed its first government Digital Dirham transaction via mBridge, completed in under two minutes/Representative Image The United Arab Emirates reached a defining moment in its financial evolution on Tuesday, as the first government transaction using the Digital Dirham was successfully executed. Issued by the Central Bank of the UAE, this digital currency […]
[ad_1] The UAE Central Bank has cut interest rates twice in two months, bringing the base rate down to 3.90%, the lowest since 2022/ Image: File The Central Bank of the UAE (CBUAE) has reduced the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15% to 3.90%, effective Thursday, […]
