This association will help enable efficiencies in managing
corporate-to-bank digital flows in India on a secure and robust platform.'
"We are working with the Ministry of Finance to put a scheme in place to reduce the interest rate of corporate-to-bank deposits by breaking the vicious circle and rigidity that have developed as a result of the liquidity crisis," Suweidi said at a bankers meeting in Abu Dhabi.
"We believe the scheme that we intend to put in place soon for corporate-to-bank deposits will also influence the interbank rate and will eventually bring it down," he said in a speech, a copy of which was obtained by Reuters.
Al Suwaidi said the UAE Central Bank is working with the Ministry of Fin-ance "to put a scheme in place to reduce the interest rate of corporate-to-bank deposits by breaking the vicious circle and rigidity that have developed as a result of the liquidity crisis.
"We believe, the scheme that we intend to put in place soon, for corporate-to-bank deposits will also influence the interbank rate and will eventually bring it down," said Al Suwaidi.