Former Federal Reserve Chairman Alan Greenspan recently said he wouldn’t be surprised if yields on US bonds turned negative and if they do, it wouldn’t be “that big a of a deal.” That seems to be a sentiment widely held in central banking circles these days, but it’s wrong. Negative interest rates represent a threat to the financial system. To ...

ABU DHABI / WAM UAE Banks Federation (UBF), officially released its annual report for the year 2018, shedding light on the significant progress and achievements of UBF and UAE banking sector, as well as major developments and trends in local and regional economies. The report highlights an increased number of UBF activities, achievements, and outcomes, and that the UAE banking ...

ABU DHABI / WAM UAE banks’ saving account balances hit a record of circa AED165.8 billion ($45.14 billion) during the first seven months of the year, a 9% growth of AED13.8 billion against AED152 billion by the end of 2018, according to statistics revealed by the Central Bank of the United Arab Emirates. The savings accounts for 11.4% of the ...