The Central Bank should have a permanent window for discounting high quality securities where banks could go and discount these. It gives peace of mind to the banks. In the absence of this facility, what banks tend to do is to keep a liquidity cushion for emergency requirements. This is a very expensive way of managing liquidity.
Abdul Aziz Al Ghurair is a prominent Emirati businessman and philanthropist. He is the CEO of Mashreq Bank and the Chairman of Al Ghurair Group, a diversified conglomerate. Al Ghurair's contributions to the business sector and his philanthropic efforts have earned him recognition and respect in the United Arab Emirates and beyond.