UAE Central Bank

Dirham-denominated deposits surge to five-year high of 497.65 billion

Abu Dhabi - Musimchronicle

Dirham-denominated deposits at the UAE Central Bank increased to a five-year high of AED497.65 billion by the end of July 2017, according to UAE Central Bank figures. The first seven months of 2017 recorded an increase of AED17.1 billion in local currency balance, which is the highest level since 2013. Market analysts attributed the growth to growing investors' trust inRead more

SCA regulates clearing activities on capital markets

Abu Dhabi - Musimchronicle

The Securities and Commodities Authority has announced a draft resolution on the practice of clearing activities on UAE capital markets, urging all parities concerned to send their feedback on the draft not later than September 17th, 2017, before its entry into force. According to the draft, which excluded UAE banks and branches of licensed foreign banks, an NOC from theRead more

Central Bank withdraws AED8.2 billion of surplus liquidity

Abu Dhabi - Musimchronicle

The UAE Central Bank has withdrawn AED8.2 billion out of excess liquidity in the market during July after it pumped AED11.3 billion in June. The move fits within the Central Bank's mandate to direct the country's credit policy, and to regulate and oversee the monetary and banking policy, ensuring their alignment with the government's general plan in a way thatRead more

Cheques cleared in 7 months surge to AED886.7 billion

Abu Dhabi - Musimchronicle

A total of 17.815 million cheques worth AED886.7 billion have been handled by the Cheque Clearing System during the first seven months of 2017, UAE Central Bank announced Wednesday. The number of cheques cleared during July reached 2.66 million worth AED131.7 billion, a growth of 4.7 percent over June during which cheques worth AED111.3 billion were cleared. Bounced cheques sinceRead more

Total bank credit to realty sector amounts to AED281.2 billion by H1

Abu Dhabi - WAM

Bank financing provided to the property and construction sector in the UAE increased by AED16.5 billion during H1 2017, a growth of 6.2 percent from the end of 2016, bringing to AED281.2 billion the total bank credit channeled to the sector by the end of June. According to UAE Central Bank statistics, funding provided to the property and construction sectorRead more

Bank statutory reserves at UAE Central Bank surge to AED125.5 billion

Abu Dhabi - WAM

The banking sector increased their statutory reserves at the UAE Central Bank by AED8.6 billion during H1, 2017, bringing to AED125.5 billion the total required reserves by the end of June 2017, according to CB statistics. Statutory reserves are the minimum liquidity banks are required to hold against client deposits without getting interests in return. The required minimum level ofRead more

AED123 billion monetary deposits in Central Bank in 6 months

Abu Dhabi - Musimchronicle

The total value of monetary deposits at the UAE Central Bank amounted to AED123 billion during H1 2017, AED122.95 billion of which are in banknotes and AED50 million in coins. On a month-over-month basis, the deposits increased by 20.5 percent, rising from AED102 billion in May to AED123 billion in June, according to Central Bank statistics released recently. The monthRead more

Cash flow increases by AED5.1 billion in H1

Abu Dhabi - Musimchronicle

The cash flow circulating on the UAE market by UAE nationals and residents, including individuals and corporations alike, gained AED5.1 billion during H1 2017, bringing to AED67.4 billion the money supply circulating outside the banking sector by the end of June, according to UAE Central Bank statistics. On a YOY basis, the liquidity available outside banks increased 4.7 percent fromRead more

UAE Central Bank raises interest rates applied to the issuance

Abu dhabi - WAM

The Central Bank of the UAE, CBUAE, has announced that, as of Thursday March 16th, it will raise interest rates applied to the issuance of its Certificates of Deposits, in line with the increase in interest rates on the US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting,Read more

UAE Central Bank board holds second meeting for 2017

Abu dhabi - WAM

The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2017 on Sunday, 5th March, 2017, at the Central Bank headquarters in Abu Dhabi. Held under the chairmanship of Khalifa Mohammed Al Kindi, the meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members YounisRead more