UAE Central Bank
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
The issue date for these M-Bills is set for August 21, 2024
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
