UAE – Mubasher: The Central Bank of the UAE (CBUAE) has injected around AED 15.86 billion in the banks' financial system in June to support liquidity, according to the CBUAE's latest data.
The fund will compensate the banks operating in the UAE for the excess liquidity withdrawn in April and May.
Injecting liquidity has resulted in a drop in the certificates of deposits to AED 194.33 billion by the end of May, compared to AED 198.77 billion in April.
It is noteworthy to mention that by the end of June 2020, the value of the UAE banks' assets rose by 7.8% year-on-year (YoY) to AED 3.19 trillion, compared to AED 2.959 trillion in the same period of 2019.
