DUBAI, Oct. 13 -- The United Arab Emirates (UAE) issued on Saturday a public debt law to support the setup of a government bond market through which public debt instruments can be traded in UAE financial markets, the UAE Ministry of Finance said in a statement.
The ministry said the new Federal Decretal Law No. (9) of 2018 will also "help the banking sector meet international liquidity rules as soon as they are issued."
The law will "enable banks operating in the state to purchase government bonds denominated in dirham, the UAE currency, or foreign currencies, which will help them comply with Basel III requirements."
Basel III is an international regulatory accord to improve the regulation, supervision and risk management within the global banking sector by strengthening bank capital requirements by increasing bank liquidity and decreasing bank leverage.
UAE Minister of Finance Hamdan Bin Rashid Al-Maktoum said "the law will contribute to enhancing the state's competitive ranking, boost investors' confidence in the national economy and raise transparency regarding management of public finances."
Public debt financing rose in significance in recent years in the oil-rich Gulf Arab states in the wake of the oil price decline which lasted from end of 2017 until the mid-2017.
Earlier in the month, the International Monetary Funds said the UAE's fiscal deficit will remain unchanged at approximately 1.6 percent of Gross Domestic Product this year, but is expected to return to a budget surplus in 2019 as the price of oil reached a four-year high in recent weeks, hovering above 80 U.S. dollars per barrel (159 liters).
The IMF has urged the Gulf states in recent years to establish liquid bond markets in order to diversify the sources of financing and to cushion the impact of future instabilities on the energy markets.
英文名著精选阅读:《傲慢与偏见》第一章 第1节
双语:“南瓜节”来狂欢 恶作剧还是招待?
【双语阅读】同一个国家 不同的信仰
英文名著精选阅读:《傲慢与偏见》第六章 第4节
精选英语美文阅读:人们在Facebook上做的十大最蠢的事
英文名著精选阅读:《傲慢与偏见》第11章 第5节
英文名著精选阅读:《傲慢与偏见》第八章 第2节
英文名著精选阅读:《傲慢与偏见》第五章 第3节
奥巴马竞选获胜演讲文稿
英文名著精选阅读:《傲慢与偏见》第11章 第2节
温家宝2011年夏季在达沃斯论坛讲话(13)
英文名著精选阅读:《小妇人》第一章:朝圣 第1节
精选英语美文阅读:生活就像自助餐
美文背诵:梦想起飞 别一飞冲天
【留美日记】嘿你,感恩节了没?
英文名著精选阅读:《小妇人》第一章:朝圣 第8节
美国新任驻华大使骆家辉宣誓就职仪式(视频)
美国经典英文演讲100篇:"Television News Coverage"
美国经典英文演讲100篇:Farewell Address
英文名著精选阅读:《傲慢与偏见》第六章 第2节
英文名著精选阅读:《傲慢与偏见》第五章 第1节
脱口秀主持柯南•奥布莱恩在2011年达特茅斯学院毕业致辞
八段经典演讲节选(中英文对照)
美国经典英文演讲100篇:Nobel Prize Acceptance Speech
温家宝2011年夏季在达沃斯论坛讲话(9)
2011诺贝尔奖得主托马斯•萨金特加州大学伯克利分校毕业演讲
精选英语美文阅读:Five Balls of Life 生命中的五个球
NBA罗德曼名人堂演讲
英文名著精选阅读:《小妇人》第二章:圣诞快乐 第6节
英文名著精选阅读:《傲慢与偏见》第二章 第1节
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |