FX & Money Markets

Foreign Exchange

Foreign Exchange (FX) desk is one of the most active areas within the Treasury. The desk provides a wide variety of products that include and not limited to Foreign exchange spot, forwards, swaps, options and structured products, to manage currency risks effectively.

The FX desk typically offers the following services for most major currencies:

• Foreign Exchange trading
• Cross Rate pricing services  
• Major Swaps pricing services
• Trading Foreign Exchange Derivatives
• Trading Non Deliverable Forward (NDF) contract in exotic currencies.

Money Market

The Money Market desk provides short-term liquidity funding and manages inter-bank borrowing and lending activities and typically uses money market instruments such as Treasury bills, commercial paper and repurchase agreements (repos) to manage liquidity. These instruments are often benchmarked to the London Interbank Offered Rate (LIBOR) for the appropriate term and currency and enable clients to manage their liquidity needs while hedging against market risks and consequently maximizing their returns on investments.

Money Market activities typically covers the following key areas

• Deposits on Conventional & Islamic bases
• Providing Interest rate products including
  • Interest rate Swaps ( IRS )
  • Caps
  • Floors
  • Forward Rate Agreement ( FRA )
• Cash Flow management and Advisory
• Structuring and tailoring the financial and Investment Products
• Managing Islamic investment funds