Abu Dhabi – Mubasher: The value of money transfers to the UAE rose 5% to AED 33.07 billion ($9 billion) in 2016, according to a report by the Bank for International Settlements.
Sovereign issuances on the UAE stock market rose in 2016 to $10 billion, the bank’s report added.
The GCC oil exporting countries in 2016 borrowed higher due to the decline in global oil prices from $100 a barrel in 2014 to about $54 a barrel by the end of last year.
Loans to oil exporting countries in the MENA regions in 2016 increased, whereas the deposits of these countries decreased in international banks.
