UAE Central Bank

UAE Central Bank’s effective strategies to fuel banking sector’s continued growth in 2024

The CBUAE has demonstrated its commitment to promoting economic and financial stability within the country

UAE-listed banks experience 54 percent surge in profits, reaching $20.93 billion in 2023: Report

This growth was primarily driven by a 28 percent increase in net interest income

UAE bank investments, credit facilities, at their highest

UAE-based bank investments reached $157 bn at end of July 2023

The Federal Reserve raises interest rates to the highest level since 2001

GCC central banks followed suit and raised interest rates by 25 basis points

3% annual growth in CBUAE gold balance by end June

Investments of banks  in UAE rise by 4.3% on annual basis

UAE Central Bank imposes sanctions on 6 banks for compliance failure

For failing to comply with due diligence and reporting procedures

5 Gulf countries follow the “Fed”, raise interest rates

Saudi made a smaller increase after slight inflation slowdown

UAE Central Bank expects growth of 5.4% this year

A strong jump of 8% in oil economy in 2022