Federal treasury bills under consideration

Abu Dhabi: The Ministry of Finance is working on a framework to issue federal treasury bills, to be presented to the Cabinet for consideration, an official said yesterday.

The programme seeks to fix timeframes, legal and regulatory frameworks, procedures and requirements.

The ministry organised a workshop for the programme on Sunday, which was attended by Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and Sultan Bin Nasser Al Suwaidi, Governor of the central bank, in collaboration with the World Bank.

"Launching the federal treasury bills programme will help in creating a bonds market at the federal level, as treasury bills represent one of the best instruments that can be used to invigorate the national economy," said Khalid Yousef Mirza, dir-ector of financial operations department at the ministry.