AED 305 billion bank reserves at Central Bank in June 2019

29-07-2019 Abu Dhabi
Total bank reserves at the UAE central bank rose to AED 305 billion by the end of the first half of 2019, an increase of 2.5% to AED 7 billion from AED 298 billion in May.
According to a report issued by the Central Bank of the UAE today, the increase in reserves, supported by the increase in the item and certificates of deposit from AED 147.1 billion to AED 155.8 billion at the end of June, increased the bank current accounts to AED 24.7 billion.
On the other hand, the mandatory bank reserve item decreased from AED 126.3 billion in May to AED 124.8 billion.
On the credit level, the report showed that the value of credit to the industrial and commercial sector increased to about AED 815.6 billion at the end of June, an increase of 1.1% compared to the previous month. While credit to the government amounted to 201.6 billion dirhams.