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Thomson Reuters to help set Eibor

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Thomson Reuters to help set Eibor

A panel of 8 banks will contribute initially to Eibor.

dubai - It has been selected as the official calculation agent and distributor

Published: Wed 28 Mar 2018, 6:45 PM

Updated: Wed 28 Mar 2018, 8:47 PM

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  • Staff Report

Thomson Reuters has announced that it was selected as the official calculation agent and distributor for the UAE Interbank Offer Rate (Eibor).

The appointment is part of the new set of regulation for the UAE banking industry released by the Central Bank of the UAE earlier on Wednesday. The initiative will enhance the governance process for setting Eibor and empower UAE banks to offer independent benchmark fixing.

A panel of 8 banks will contribute initially to Eibor, which will be calculated by Thomson Reuters based on procedures aligned to the International Organisation of Securities Commission Principles for Financial Benchmarks.

- business@khaleejtimes.com



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