October 13, 2018 / 5:53 AM / in 8 days

UAE issues law to permit federal debt issues

ABU DHABI, Oct 13 (Reuters) - The United Arab Emirates issued a law permitting the federal government to begin issuing sovereign debt, the finance ministry said on Saturday.

Banks operating in the country will be able to buy government bonds in UAE dirhams or foreign currencies, helping them manage their liquidity and comply with global Basel III regulatory requirements for banks, it said. (Reporting by Stanley Carvalho; Writing by Andrew Torchia)

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