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The Central Bank has been engaging with CBLIE over a number of months seeking remediation of its regulatory issues, including the weaknesses in its financial position.
The pilot programme is the first of its kind to be launched by a central bank, allowing banks in Saudi Arabia to use Ripple's software to instantly settle payments sent into and out of the country, the company told Reuters late on Wednesday.
The SBP has signed a Memorandum of Understanding as an important milestone on bilateral central banking cooperation with the Central Bank of the Russian Federation (CBRF).
The Central Bank must also pay much attention to the creation of competitive conditions for the formation of full partnership between commercial banks and business entities.
On Wednesday, however, Al Mansouri said the central banks wanted to understand blockchain technology better.
In a report that was released on Monday, the apex bank said that even though central banks could issue digital currencies, they could not be used as a means of payment between commercial banks or central banks.
The current legislation makes no provision for the President to dismiss the central bank governor.
The central bank added that decisions of this type are "taken based on administrative law procedures, i.
First, it turns out that the cost of negative central bank rates can actually be relatively low.
Saudi Arabia's central bank raised its benchmark reverse repurchase rate by 25 basis points to 50 basis points, state news agency SPA reported.
Keeping in view the declining inflation due to falling international oil prices, (the) central bank has decided to lower the discount rate," Wathra said in televised remarks.
It is worth noting that after the PPK's decision Prime Minister Ahmet Davutoy-lu said he thought the interest rate would continue to decrease and that it is normal for him to meet with the central bank.
by Abasin Zaheer on 14 April, 2014 - 19:23 KABUL (Pajhwok): The central bank has been paying tens of thousands of dollars each month over the past three years to cover the losses of the New Kabul Bank, a lawmaker said on Monday.
BAGHDAD / NINA / The consultant of private banks association, Salam Sumaisem described officials' statements in the Iraqi Central Bank on increasing gold reserves of the central bank to stabilize the price of the national currency against the foreign currency , as "foggy.
The overall governance arrangements for a central bank will, in part, reflect the range of responsibilities each institution has.
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