The UAE Central Bank’s (CBUAE) balance of gold rose on an annual basis by 3.03 percent at the end of last June.
Gold is among the various assets owned by the Central Bank, including liquid funds, certificates of deposit, and held-to-maturity securities.
The data of the statistical bulletin issued by the CBUAE today showed that its balance of the yellow metal reached 11.853 billion dirhams ($3.2 billion) at the end of last June, an increase equivalent to 349 million dirhams, compared to 11.504 billion dirhams in June 2021.
According to figures, CBUAE’s balance of the yellow metal declined in June compared to May, when it amounted to 12.1 billion dirhams.
It is noteworthy that the Central Bank’s gold balance witnessed remarkable growth during the past years, rising to 8.961 billion dirhams at the end of 2020, compared to 1.134 billion dirhams at the end of 2018 and 4.044 billion dirhams at the end of 2019.
Investments in banks operating in the UAE
According to data released today by the UAE Central Bank, the investments of banks operating in the country rose on an annual basis by 4.3 percent to 486.4 billion dirhams at the end of last June, an increase equivalent to 20.2 billion dirhams compared to 466.2 billion dirhams in June 2021.
Statistics showed that bank investments rose during the first six months of this year by about 13.2 billion dirhams, or 2.8 percent over the 473.2 billion dirhams total at the end of December 2021.
The share of banks’ investments in bonds held to maturity amounted to about 30.7 percent of the total investments, reaching 149.2 billion dirhams at the end of last June, an increase on an annual basis by 26.2% compared to 118.2 billion in June 2021, and an increase on a monthly basis by 0.13 percent, compared to 149 billion dirhams in May 2022.
Banks’ investments in stocks reached 17 billion dirhams at the end of last June, an increase on an annual basis of 41.7%, equivalent to 5 billion dirhams, compared to about 12 billion dirhams in June 2021, while it increased on a monthly basis by 3.7%, compared to about 16.4 billion dirhams in May 2022.
According to the Central Bank’s statistics, other investments by banks amounted to about 44.7 billion dirhams at the end of last June, an increase during the first six months of this year by 4.9%, compared to 42.6 billion in December 2021.
