Abu Dhabi – Mubasher: The Central Bank of the UAE’s statutory reserves increased by AED 8.6 billion to AED 125.5 billion in the first half of 2017, according to official statements on Sunday.
The surge peak was recorded in July, as reserves jumped AED 3 billion versus AED 2.6 billion in May, according to Emirates News Agency (WAM).
The Central Bank of the UAE requires banks to keep 14% of demand deposits and 1% of term deposits as statutory reserves, which provide liquidity, help in crisis management, and can be used as tools to achieve the fiscal policies of the banks.
