Abu Dhabi: The EIBOR, Emirates Inter-Bank Offered Rate, panel has decided not to fix EIBOR rates on Saturdays with effect from May 29, 2015.
The decision was taken in EIBOR panel’s first meeting of this year which took place on 28th January, 2015, at the Central Bank Head Office.
“After due deliberation, the panel accepted the proposal and decided not to fix EIBOR rates on Saturdays. This change will take effect from the 29th of May, 2015,” the statement said.
The bank says that Tuesday’s fixing will be applicable to Thursday and Saturday value days. In case of official holidays, the value of the last valid business day shall apply.
