UAE Central Bank statement regarding expatriate deposits in UAE banks
Hours ago, a new statement was issued by the UAE Central Bank regarding the deposits of foreign expatriates in banks, as they rose and recorded the highest level in its history.
Statement from the Central Bank of the UAE concerning the bank deposits made by expats
A new statement was released a few hours ago by the Central Bank of the United Arab Emirates (UAE) concerning the deposits of foreign expatriates in banks, as they increased and reached the greatest level in the bank's whole history.
High deposits of foreign residents in UAE banks
High levels of deposits made by non-UAE citizens at UAE banks, According to the most current statistics, the Central Bank of the United Arab Emirates made a statement indicating that the deposits of residents recorded the greatest level in the history of the country. This was backed by the significant economic activity, the high interest rate, and the growing confidence in the banking system. To achieve a growth rate of 13.9% on an annual basis, to reach 2.382 trillion dirhams at the end of last June 2023, compared to 2.092 trillion dirhams at the end of June 2022. This will take place within a period of one year.
The value of foreign residents' deposits in UAE banks
The value of deposits made by non-UAE citizens in banks located in the UAE, The value of residents' deposits, which amounted to 2.171 trillion dirhams at the end of June 2023, recorded the highest level in its history, compared to 1.843 trillion dirhams at the end of June 2022, an increase of 328 billion dirhams and an annual growth rate of 17.7%, supported by great economic activity and the high interest rate, and growing confidence in the banking system, and according to statistics, private sector deposits accounted for a majority of the total deposits in the banking system.
