Emirates Interbank Offered Rate - EIBOR

The London Interbank Offered Rate. It's a benchmark interest rate that banks use to set the rates they use for short-term loans.

Now, move this idea from London to Dubai and you get EIBOR (or sometimes EBOR...which sounds like a cousin to Winnie the Pooh's donkey friend). The EIBOR is a reference rate compiled by the central bank of the United Arab Emirates, the Middle Eastern country most famous for having Dubai as its major city. (Dubai has an indoor ski hill. There's also a hotel with underwater rooms.)

EIBOR provides a reference rate for banks in the UAE, much as LIBOR does on a more global basis.