By: Ramy Sameeh
Abu Dhabi – Mubasher: The assets of UAE Islamic banks increased to AED 520 billion ($141.6 billion) to date, according to Saif Hadef Al-Shamsi, the central bank's assistant governor for monetary policy and financial stability.
The banks’ assets constitute 20% of the UAE banking sector's overall assets worth AED 2.6 trillion ($708 billion), Al-Shamsi added on the sidelines of an event held on Wednesday in Abu Dhabi .
The Islamic banks’ deposits increased 42% in the past three years, while loans grew 54%.
The UAE banks have a good liquidity as their capital adequacy ratio reached 17.1% by the end of 2016.
Translated by: Julian Nabil
