Dubai-Mubasher: The UAE’s Central Bank reported an increase in the bank’s local-currency current deposits by the end of February, according to a data released by the bank.
Local-currency current deposits rose by AED 14.05 billion to AED 416.01 billion by the end of February 2016, compared to figures from December 2015, according to a data released by the UAE’s Central Bank.
Foreign currency deposits reached AED 164.33 billion by the end of February 2016, compared to AED 153.83 billion by the end of January 2016.
Total deposits in the local currency increased to AED 916.1 billion by the end of February 2016, compare to AED 915.72 billion by the end of January 2015.
The UAE’s bank deposits accounted for 57% of the total liabilities, according to a report by the Dubai Chamber of Commerce and Industry (DCCI).
Since mid-2014, the growth rate of local deposits declined till it reached 2%, as deposit inflows from the government and individuals decreased.
