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Abu DHABI / Reuters
A final decision on a new system of setting Emirates Interbank Offered Rates (EIBOR), which will be more efficient and more closely based on real data from the market, is expected to be taken this year, the UAE central bank governor said on Tuesday. “It’s ongoing and we’re having final discussions with the banks,†Mubarak Rashid al-Mansouri told Reuters on the sidelines of a financial industry conference in Abu Dhabi. On when the new system would be introduced, he added: “I’m hopeful anytime soon, but it depends on our talks with the banks.†A decision still needs to be taken on whether the number of banks on the rate-setting panel will change, Mansouri said.