First Abu Dhabi Bank
First Abu Dhabi Bank P.J.S.CGET - On the app Store
This explanation and general risk warning is provided for customers of First Abu Dhabi Bank PJSC and each of its affiliates (collectively,'FAB') who may have a conventional product or agreement which uses the London Interbank Offered Rate ('LIBOR') or another inter-bank offered rate (together with LIBOR, the 'IBORs') as a benchmark rate.
London Interbank Offer Rates (LIBOR) and other Interbank Offer Rates (collectively, IBORs) are expected to be discontinued after 31 December 2021 and replaced with certain Alternative Reference Rates (ARRs), with the exception of certain USD LIBOR rates which are expected to be discontinued on 30 June 2023.