UAE may issue federal bonds by 2018, studies ongoing, says ministry | GulfNews.com:
"The UAE is expected to issue its first ever federal government bonds before 2018 to help the country’s banks meet global liquidity rules, but feasibility studies are yet to be completed, a senior finance ministry official said.
UAE banks, such as National Bank of Abu Dhabi and Emirates NBD, could buy the dirham-denominated government debt to help meet liquidity requirements being phased in under the Basel III global banking standards.
“The purpose of issuing bonds is to meet the requirements of Basel III, since the central bank needs to accommodate Basel’s requests that the country’s banks maintain certain portions of sovereign bonds, in which case the unavailability of bonds will make the requirement difficult to fulfil,” Younis Al Khouri, undersecretary at the federal Ministry of Finance, said."
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