AED 137.5 billion in cash withdrawals through the Emirates Online Service

Media in Abu Dhabi 30 July 2018 /
The total value of withdrawals through the Emirates Exchange was AED 137.5 billion in 2017, an increase of 3.6% compared to the previous year, according to the Central Bank of UAE (CBE).
Emirates Electronic Exchange is one of the most important payment systems established by the Bank to serve the financial and economic sectors, as well as other services including the Emirates Financial Transfer System, the Check Clearing System using its images, the Direct Debit System and the Wage Protection System.
The provision of the Emirates e-commerce service to enable customers to benefit from the withdrawal services and use and inquire about the balance available in the ATMs of financial institutions in the country, which does not have a customer card issued by the bank.
It is evident from the monitoring of the movement of the activity of this service that it has been developing continuously since its establishment in 1996. The number of participating banks is 43 banks, while the system has become linked to all the GCC countries through the Gulf network.
The number of ATMs operating in the United Arab Emirates reached 5274 at the end of the first quarter of this year, an increase of 63 compared to 5211 compared to the same quarter in 2017.
It is worth noting that the Central Bank of the UAE, which provided a system of payment to the financial and economic sector, has established a specialized unit to monitor the payment systems in order to enhance the effectiveness of these systems and reduce risks.