Media ININ Economy We Trust
Media IN Abu Dhabi 31-03-2019 / WAM
The total value of transactions executed between UAE banks through the UAE Exchange System (UAFTS) was AED 1.684 trillion during January and February of 2019 compared to AED 1.6 trillion during the same period of 2018.
Figures released by the Central Bank of UAE show the transfers recorded during the first two months of this year, distributed by 1.163 trillion dirhams for banks, while the value of remittances reached 520.7 billion dirhams in the same monitoring period.
During the month of January this year the value of remittances amounted to 632.716 billion dirhams for banks, while the value of remittances customers 273.727 billion dirhams, according to the Central Bank of Statistics.
In February, remittances by banks amounted to AED 531.126 billion, while customers’ remittances reached AED 246.976 billion.
The month of October last year recorded a large activity of remittance movement, where the banks reached 640 billion dirhams, while the value of customer transfers about 300 billion dirhams.
The strong increase in interbank transfers is an indication of the high level of activity in the banking sector since the beginning of the year, supported by the improvement witnessed by the economic sectors.
On the other hand, the value of cash withdrawals from the Central Bank during the months of January and February of this year 34.26 billion dirhams, while the value of deposits during the same period about 32.6 billion dirhams.
In January, the value of withdrawals reached 17.852 billion dirhams, of which 17.847 billion dirhams were banknotes and about 5.145 million dirhams coins. Deposits amounted to 17.921 billion dirhams during the same month, of which 17.914 billion dirhams were in the form of banknotes and about 7.45 million dirhams.
In February, the value of withdrawals amounted to 16.408 billion dirhams, of which 16.403 billion dirhams were banknotes and about 4.51 million dirhams coins.
Deposits in the same month reached AED 14.676 billion, of which AED 14.676 billion were cash and AED 583 thousand were coins.
