AED 906.4 billion transfers to the banking system during January

14-03-2019 Media in\ Abu Dhabi
The latest statistics from the Central Bank of the UAE today on the movement of transactions in the banking sector positive indicators reflect the overall activity in one of the most important sectors supporting the national economy.
Total remittances between banks operating in the UAE through the UAE Exchange System (UAFTS) rose to AED 906.4 billion in January 2019, an increase of 7.8% compared to AED 840.6 billion in the same month of 2018.
In January, remittances amounted to AED 632.7 billion, while the value of remittances reached AED 273.3 billion.
On the other hand, the number of checks processed through the Emirates Check Clearing System was 2.3 million during the month of January 2019, amounting to about 105.4 billion dirhams.
The cash flow at the Central Bank of the UAE stood at AED 18 billion in January 2019, while the value of withdrawals reached AED 17.85 billion during the same month.
According to figures from the Central Bank of UAE, the behavior of dealers in the banking system in the state towards the deposit of about 150 million dirhams at the end of the first month of the year.
The value of deposits in paper currency amounted to about 17.91 billion dirhams, while the currency amounted to 90 million dirhams, according to figures from the Central Bank.
During the month of January, the value of the drawings was AED 17.85 billion in paper currency and AED 150 million in coins.
The movement of deposits and withdrawals carried out between the banking system usually reflects the level of activity witnessed by the national economy in general during a certain period, noting that all indicators available so far indicate good growth rates in most sectors, which constitute the main source of the national economy.