Mubasher: The value of transfers among banks in the UAE soared 63.6% in the first five months of 2016 to reach AED 4.22 trillion as compared to AED 2.58 trillion in the same period of 2015, according to latest data issued by the UAE central bank.
Meanwhile, the value of returned checks grew 41% to AED 31 billion over the first five months as compared to AED 22 billion in the corresponding period of 2015.
The report added that the returned checks accounted for 4.7% of the overall value for those submitted to the clearance system which is affiliated to the central bank.
