Money Market Desk is responsible for managing the bank’s short term liquidity using a wide range of solutions within the interbank market. The desk also manages market relationships making interbank counterparties, regional institutional customers, and the UAE Central Bank Treasury Dept.
UAB accepts major foreign currency deposits with the minimum amount equivalent to US 25,000/- or more. Major currencies like USD, EUR and GBP rates are quoted.
A repurchase transaction involves a purchase or sale of securities with a simultaneous agreement to reverse the transaction at an agreed date and price in the future. This effectively is a "collateralized" cash loan, with securities being used as collateral.
Reverse Repo
A reverse repurchase agreement is simply a repurchase agreement from the dealer’s perspective rather from the counterparty’s perspective. Therefore, if the dealer borrows money, it is a Repo. If the dealer lends money, it is a Reverse Repo.
