164.7 billion dirhams of bank investments in cash bills and Islamic certificates of deposit by the end of 2022

Abu Dhabi, March 9 / The UAE Central Bank revealed that banks’ investments in cash bills and Islamic certificates of deposit increased to 164.7 billion dirhams at the end of last year 2022.
The Central Bank stated that banks’ investments in cash bills and Islamic certificates of deposit increased on a quarterly basis by 13%, compared to about 145.7 billion dirhams at the end of last September.
He pointed out that banks’ investments in Sharia-compliant certificates of deposit amounted to 52.5 billion dirhams at the end of last December, with a quarterly increase of 107.5%, compared to 25.3 billion dirhams in September 2022.
Banks’ investments in Sharia-compliant certificates of deposit increased on an annual basis by 6.9%, compared to about 49.1 billion dirhams at the end of December 2021.