Abu Dhabi – Mubasher: Non-resident deposits at the UAE sharia-compliant banks rose by around AED 4.2 billion in the first two months of 2018.
Total non-resident deposits at the Islamic lenders grew to AED 17.058 billion at the end of February 2018, compared to AED 12.81 billion in December 2017, Emirates News Agency (WAM) reported, citing data by the Central Bank of the UAE.
Despite the continuous growth in the non-resident deposits, deposits had been calm since the first half of 2017 until the end of the year to remain between AED 12.5 billion and AED 12.8 billion.
Non-resident deposits at the UAE sharia-compliant banks surged by AED 2.6 billion last January, while they increased AED 1.6 billion in February, compared to the prior months.
Non-resident deposits make up 4.4% of total deposits at the UAE sharia-compliant, as the remaining deposits represent residents’ deposits, including institutions, individuals, and the government.
Total deposits at sharia-compliant lenders stood at AED 385.1 billion last February, while total deposits at the traditional banks amounted to AED 1.235 trillion.
