Durov was arrested on August 24 as he arrived at Le Bourget airport outside Paris on a private jet
Effective immediately, the CBB’s rate on the one-week deposit facility is 0.75 per cent down from 1.50 per cent previously.
The CBB’s lending standing facilities remain available for its banks at their initiative to assist them to meet their liquidity needs. The CBB has decided to adjust the rate on the overnight deposit facility to 0.25 per cent, from 1 per cent previously.
It has also decided to adjust the Repo lending rate through which it charges banks for the use of these facilities. The CBB has reduced the repo and lending rates to 2.75 per cent from 3.50 per cent previously.
The adjustment to the deposit and lending rates represents a continuation of measures taken by the CBB to ensure the smooth functioning of the money markets in Bahrain, and in accordance with the policy of pegging the Bahrain Dinar to the US dollar.
Durov was arrested on August 24 as he arrived at Le Bourget airport outside Paris on a private jet
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