AED 7.13 trillion worth of interbank transfers during 8 months

Abu Dhabi 15-09-2019
Transfers between banks operating in the UAE through the UAE Financial Remittance System (UATFTS) totaled AED 7.13 trillion in the first eight months of 2019, an increase of 8% compared to AED 6.61 trillion during the same period in 2018.
The value of interbank transfers during the period from January to August of this year amounted to 4.864 trillion dirhams, while the value of individual remittances reached 2.273 dirhams, according to figures issued by the UAE Central Bank today.
The significant increase in interbank remittances reflects continued activity in the banking sector since the beginning of the year, indicating continued growth in most economic sectors.
On the monthly level, statistics show that the value of inter-bank transfers during August 2019 reached almost 504 billion dirhams, while in July it reached 620 billion dirhams and about 595 billion dirhams in June of the same year.