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.
Corporates to Learn the Benefits of Streamlining Their Corporate-to-Bank Communications via SWIFT
This presents the opportunity corporates have been waiting for - to move away from maintaining an array of proprietary banking connections and to streamline corporate-to-bank communication through a single interface.
6, the latest release, incorporates support for the International Standards Team Harmonisation (ISTH) collaboration initiative's deliverable, an XML core payment kernel for corporate-to-bank
payment initiation and status messages.
The Interactive Financial eXchange (IFX) Forum, a key player in the International Standards Team Harmonisation (ISTH) collaboration initiative involving major international banks and standards organizations, today announced that it will include support for the initiative's deliverable, an XML core payment kernel for corporate-to-bank
payment initiation and status messages, in the next version of the IFX specification.