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The two largest banks in the wealthy Alpine nation famed for its banking prominence have been in negotiations throughout the weekend
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They will collaborate on various emerging areas of the industry especially Central Bank Digital Currencies (CBDCs)
Move marks dramatic coordinated initiative by private lenders to bolster the system
Even as start-ups and investors began recovering their money from Silicon Valley Bank, the episode exposed the tech industry’s vulnerabilities
All in all, banks in the country held Dh2.222 trillion in deposits until the end of the year
Establishment of the bank aims at driving investments in infrastructure to promote Asia’s accelerated development
Deposits in banks have increased remarkably over the recent years
Regulator studying available options regarding new status of the institution
CBUAE also has decided to maintain the rate applicable to borrowing short-term liquidity from the bank
The new system allows tenants and landlords to configure the rent payment schedule during the contract creation or renewal process