Such premise may be questionable whenever financial institutions tend to settle their interbank transactions
outside the large-value payment system, say on the books of a common settlement bank, or by the physical delivery of cash or checks between them.
He also reiterated the importance of clearing and settling of domestic interbank transactions
in Namibia in order to properly manage and control domestic exposures and risks, adding that the localisation of core banking systems would go a long way in minimising certain payment system risks.
In the past two years, the IIFM has launched standard contract templates for Islamic interbank transactions
and profit rate swaps.
The code lists practices that should be followed by banks while serving customers, dealing in interbank transactions
, market conduct, advertising, relations with regulator, recruitment and development of UAE national staff and the overall management of banks.
Summary: Citibank will no longer be part of the panel of the Emirates Interbank Offered Rate, or Eibor, the group that fixes the interest rates charged by lenders for interbank transactions
The capital control law passed by the legislature last Friday gives the regulator the power to: restrict cash withdrawals; ban premature termination of time deposits; mandate a compulsory reprogramme of maturing time deposits; ban or restrict opening new accounts; convert current accounts into time deposits; ban or restrict non-cash transactions; restrict use of credit, debit or prepaid cards; ban or restrict cashing cheques; restrict interbank transactions
or transactions within the same bank; restrict transactions between the public and credit institutions; and restrict movement of capital, payments and transfers.
which are allowed include mudaraba, musharaka and wakala placements.
A poll of more than 1,200 members of the CFA Institute shows the vast majority think Libor should be based on actual interbank transactions
or a combination of actual transactions and estimates, as opposed to the current method of relying on estimates, according to a Reuters blog posting by Felix Salmon.
It is used to price financial contracts around the world, ranging from complex interbank transactions
to consumer mortgages and student loans.
Growth at EPN and SVPCO increased interbank transactions
sent to the NSS.
The Collateralized Murabahah will be a new low credit-risk financial instrument that enables collateralized interbank transactions
in the Islamic Money Market in the country, the central bank said in a statement.
Saidi said, "The establishment of the IIBR marks an important milestone in the maturation of Islamic money markets by providing an international reference rate for interbank transactions