The assets of banks exceed three trillion dirhams, with a growth of 12%..and the highest Islamic bank in its history

Islamic:

618.1 billion dirhams for “Islamic banks”, the highest in its history
402.8 billion dirhams of bank credit, an increase of 5.3%
435.5 billion dirhams in deposits, an increase of 2.1%
104.2 billion dirhams of investments, up 23%
It acquires 83% of the assets of the banking system
1.485 trillion bank credit, up 5.6%
406.9 billion dirhams of conventional bank investments

The assets of Islamic banks operating in the country rose to 618.1 billion dirhams at the end of last November, marking the highest level in its history, according to the latest statistics of the Central Bank, which showed that the assets of Islamic banks increased during the first 11 months of last year, by about 27.8 billion dirhams. Or 4.7%, compared to about 590.3 billion dirhams at the end of December 2021.

In terms of conventional banks operating in the country, their total assets reached 3.021 trillion dirhams at the end of last November, an increase on an annual basis of 12% compared to about 2.698 trillion dirhams at the end of November 2021, and an increase of 10.6% during the first 11 months of last year, compared to about 2.73 trillion dirhams at the end of December 2021.

The assets of Islamic banks in the country increased on an annual basis by 3.4%, compared to about 597.6 billion dirhams in November 2021, while they increased on a monthly basis by about 10.3 billion dirhams, or by 1.7%, compared to about 607.8 billion dirhams in October 2022.

Bank credit for Islamic banks increased to 402.8 billion dirhams at the end of last November, an increase of 5.3% on an annual basis, compared to about 382.5 billion dirhams in November 2021, and during the first 11 months of last year it increased by 5.2%, compared to about 383 billion dirhams at the end of December 2021.

Deposits in Islamic banks increased to 435.5 billion dirhams, an increase on an annual basis of about 2.1%, compared to about 426.5 billion dirhams in November 2021, while during the first 11 months of last year they increased by about 3%, compared to 422.8 billion dirhams at the end of December 2021.

The statistics showed that the total investments of Islamic banks reached 104.2 billion dirhams at the end of last November, an increase on an annual basis by 23.2%, or the equivalent of 19.6 billion dirhams, compared to investments of about 84.6 billion in November 2021.

The investments of Islamic banks were distributed by 71.9 billion dirhams in bonds held to maturity, 18.7 billion dirhams in securities that represent debts to others (debt bonds), 2.8 billion dirhams in stocks, and 10.8 billion dirhams in other investments.

conventional banks

According to statistics, conventional banks acquired about 83% of the assets of the banking system in the country at the end of last November, compared to the share of Islamic banks amounting to 17%.

Total bank credit to conventional banks reached 1.485 trillion dirhams at the end of last November, an increase on an annual basis of 5.6%, while bank deposits in conventional banks increased to 1.8 trillion dirhams at the end of last November, an annual growth of 17.1%.

The total investments of conventional banks rose to 406.9 billion dirhams at the end of last November, distributed by 232.2 billion dirhams in securities that represent debts to others (debt bonds), 128.9 billion dirhams in bonds held until maturity and 9.4 billion dirhams in stocks. And 36.4 billion dirhams of other investments.