UAE Central Bank
Credit balance for the sectors from banks in Abu Dhabi was around $104.76 billion in May 2024
The UAE is one of only 36 countries worldwide currently piloting the implementation of CBDCs
In April 2024, CBUAE's gold reserves reached $5.54 billion
Gross credit grew 0.7 percent from AED2.063 trillion in April 2024 to $565.47 billion
The Federal Open Market Committee also noted that job gains have moderated
Central bank's regulations are designed to advance the digital economy and foster innovation in the fintech sphere
This includes developing the exchange market, facilitating bilateral trade and direct investment, and remittance settlement
Central banks also sign MoU to establish a framework for the use of local currencies in settling cross-border transactions
Deposits reached AED286.67 billion ($78 billion) at the end of March 2024
The CBUAE has demonstrated its commitment to promoting economic and financial stability within the country
This growth was primarily driven by a 28 percent increase in net interest income
