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Bloomberg and Qatar Central Bank to launch Interbank
Rate
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QCB and
Bloomberg LP are partnering to launch the
first ever Qatar Interbank Offer Rate (QIBOR)
fixings in a move aimed at encouraging a
more active interbank market in Qatar,
Interbank rate fixings are used around the
world to provide a daily reference point for
banks borrowing unsecured funds from other
banks in the local wholesale banking market
and this announcement brings Qatar into that
market for the first time.
QIBOR fixings for eight different time
maturities ranging from overnight to one
year will be publicly available each day
making market activity transparent to other
banks around the world. |
Related
Lebanon's Islamic banking: More deeds than
words??
he banque du Liban hopes to
amend a 2004 law that allowed the establishment of Shariah-
compliant banks, First Vice-Governor Raed Charafeddine said
in an interview Nov. 5 in
Beirut.
The Bank of Lebanon is also
considering introducing a
product in the first quarter
that helps Islamic lenders
manage their liquidity, he said.
Kuwait plans to amend foreign investment law
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Kuwait intends to modify its foreign direct
investment law this year as the Gulf oil
producer embarks on a US$111 billion plan to
modernize its economy, a government official
said.
Kuwait expects private investors to
contribute about half of the four-year
development plan, which began in the
2010-2011 fiscal year, to diversify its
oil-reliant economy. The country, which
passed the foreign direct investment law in
2001 to ease foreign ownership limits, is
seeking investments in projects including a
US$14 billion oil refinery. |
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