National Bank of Fujairah has been chosen to replace Barclays on the panel which sets the United Arab Emirates' indicative interbank lending rates, banking sources told Reuters on Wednesday.
Barclays said in July it was withdrawing from the panel which determines the Emirates interbank offered rate (Eibor), weeks after it agreed to pay a $453 million fine to U.S and British regulators over manipulation of the London interbank offered rate (Libor).
There has been no suggestion that Barclays tried to manipulate Eibor, which is used to price financial instruments in the Gulf's top financial centre.
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