Dubai – Mubasher: The Central Bank of the UAE has selected Thomson Reuters as its official calculation agent and distributor for the UAE Interbank Offer Rate (EIBOR).
A panel of eight banks will participate in setting EIBOR, which will be calculated by Thomson Reuters based on the principles of financial benchmarks developed by the International Organisation of Securities Commission (IOSCO).
The central bank had previously announced that the new system of setting EIBOR will be introduced as of 15 April 2018.
The bank had said that the new EIBOR system would reinforce governance, unify standards, and bolster transparency in the process of setting interest rates for banks taking part in the EIBOR Commission.
