By: Mahmoud Gamal
Abu Dhabi - Mubasher: Data from the Central Bank of the United Arab Emirates showed that banks operating in the UAE has increased their investments in the debt instruments by AED 26.3 billion or 16.7%.
By the end of March investments totalled AED 183.6 billion ($49.97 billion) compared to AED 157.3 billion ($42.82 billion) by the end of March 2016.
Economic analyst Mohamed Al Dhofiery said that banks seek diversifying their investments from fixed income sources especially after the decline of oil prices, which negatively impacted all of the market sectors.
The data also showed a change in banks’ investments in stocks, as it decreased by 4.7% to AED 12.2 billion down from AED 12.8 billion by the same period last year.
