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. Investopedia Says:
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. Related Terms:
Euro Interbank Offer Rate - EURIBOR
Hong Kong Interbank Offer Rate - HIBOR
Interbank Rate
Interest Rate
Islamic Banking
Johannesburg Interbank Agreed Rate - JIBAR
London Interbank Offered Rate - LIBOR
Stockholm Interbank Offered Rate - STIBOR |