Islamic CDs surge Dh13bn in first half
Islamic certificates of deposits (CDs) launched by the UAE central bank in late 2010 rised by nearly Dh13 billion at the end of June as it seems that banks are investing heavily in such tools issued in the country for the first time.
The figures prooved that UAE banks are turning heavily to the central bank to invest excess liquidity and offset a sharp slowdown in their credit to the private sector which they now see as a high-risk field.
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