AED 1.2 trillion worth of checks traded during 11 months

Media In Abu Dhabi – 18 December 2018 / WAM /
The number of checks processed through the Emirates Check Clearing System was 22.5 million during the first 11 months of 2018, amounting to AED 1.2 trillion.
According to statistics issued today by the Central Bank of UAE, the value of checks that were traded in the period from January to the end of November, about 80% of the total value of checks traded throughout the year 2017 worth 1.5 trillion dirhams.
On a monthly basis, the number of checks traded during November 2018 amounted to 2.1 million checks amounting to 97.8 billion dirhams compared with 118.2 billion dirhams in the same month of 2017.
Returning to the details of the movement of checks during 2018, the month of March still the most active in terms of activity, has seen the circulation of 2.4 million checks at a value of 118.5 billion dirhams followed by the month of October at the second place by 115 billion dirhams, then January 112.3 billion dirhams and 112 billion dirhams. August was the least active month with a value of AED 91.2 billion.
On the other hand, the value of cash withdrawals from the Central Bank during the first 11 months of this year amounted to 217.2 billion dirhams, while the value of deposits during the same period reached about 215 billion dirhams.