In line with the UAE Central Bank’s decision on December 14th, 2017 to raise interest rates by 0.25%, we hereby inform you that there is an increase of 0.25% in CBI’s base rate (“Base Rate”) with effect from December 14th, 2017.
The revised rate is applicable from that date on all existing loans and financing that are priced using the Base Rate.
Products with rates that are either fixed or based on some other published rate, such as LIBOR and EIBOR, will not be impacted by the above revision and the related contracted rates will remain unchanged.