UAE Central Bank
The CBUAE is the supervisory and regulatory authority of the banking and insurance sector in the UAE. It promotes financial and monetary stability, efficiency and resilience in the financial system, and the protection of consumers through effective supervision. The regulator was founded in 1980. Its major roles include setting up appropriate regulations and standards for protection of consumers of licensed financial institutions, constantly monitoring the credit condition in the state, and managing foreign reserves to maintain, at all times, sufficient foreign currency assets to cover the monetary base.
This issuance is part of the UAE's Islamic Treasury sukuk issuance program for the fourth quarter of 2024
In 2023, the global market capitalization of stablecoins exceeded $130 billion
Gold prices continued to decline as the U.S. dollar index was set for a slight weekly gain after Trump's election victory
Labor market conditions have generally eased, and the unemployment rate has moved up but remains low, the Fed said
CBUAE’s gold reserves grew by 23.5 percent YoY, reaching AED21.28 billion by the end of July
Local banks took the lion's share, accounting for 86.3 percent of the total capital and reserves
SME loans made up 9.5 percent of 232.9 billion in financial facilities for commercial and industrial sectors as of June
The initial focus of Project Aperta will be on trade finance for SMEs
The total number of insurance policies written across all types in the UAE surged to 14.6 million
A 4.6x oversubscription on $299.4 million issued
UAE's real GDP grew 3.6 percent, driven by rise in the non-oil sector, particularly in tourism, real estate, and finance
This increase was primarily driven by significant rises in property and liability insurance premiums
Growth in 2025 will be fueled by strong non-hydrocarbon momentum and a rise in hydrocarbon production
The Fed attributed this move to recent indicators that suggested that economic activity continued to expand at a solid pace
Investments in Shariah-compliant CDs hit $11.95 billion during this period
National banks comprised 86.3 percent of the total capital and reserves, amounting to $116.4 billion
Gross credit rose by 1.1 percent to AED2,100.9 billion by the end of June 2024
In Q2, demand for trade credit remained strong, with a greater appetite for lending
By the end of May, these banks had elevated their equity investments to AED16.1 billion
This $299.49 million auction is part of the Islamic T-Sukuk issuance program for August 2024
Term deposits exceeding 12 months recorded AED44.48 billion at the end of May, up by 0.52 percent
Banks saw a 3.2 percent rise in loans and advances, outpacing the 0.4 percent growth in deposits
This growth is driven by technological advancements and changes in the financial sector, leading to greater security and efficiency
