The Central Bank of the UAE (CBUAE) announced an auction of Monetary Bills (M-Bills) on March 18, 2024. The auction includes four issues of M-Bills Treasury bonds.
The first issue for 28 days will be up to Dh3 billion; the second for 70 days will be up to Dh2 billion; and the third for 128 days will be up to Dh3 billion.
The fourth issue for 238 days will be for up to Dh4 billion.
The Issue Date will be on March 20, with a maturity date of the first issue due on April 17, 2024, the second issue on May 19, 2024, the third issue on July 24, 2024, and the fourth issue on November 13, 2024.
Last December, the CBUAE launched a new securities issuance programme – Monetary Bills – for licensed financial institutions and eligible investors. The M-Bills replaced the conventional certificates of deposit (CD) programme, as part of the road towards the implementation of the new Dirham Monetary Framework.
“The objective is to provide a holistic solution to manage liquidity within the UAE banking sector,” the Central Bank said in a statement at the time.
