Emirates Interbank Offered Rate - EIBOR
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Definition of 'Emirates Interbank Offered Rate - EIBOR'
The interest rate charged by banks in the United Arab Emirates for interbank transactions. In most cases, EIBOR is the reference rate most commonly used by borrowers and lenders to conduct financial transactions in Dubai and the surrounding Emirates.
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Investopedia explains 'Emirates Interbank Offered Rate - EIBOR'
Similar to the London Interbank Offered Rate (LIBOR), EIBOR futures contracts are available for trade and there are various EIBOR offered rates depending on the life of the loan.
Many Islamic banks use EIBOR rates as benchmarks for determining the rental rates for special leasing agreements called Ijara.
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There is no division between the spiritual and the secular in this type of socially responsible investing.
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Derivatives can reduce the risks associated with changes in foreign exchange rates, interest rates and commodity prices.
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Search and compare the best checking and savings rates nationwide from Bankrate.com. Click Here!
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