By: Mahmoud Gamal
Abu Dhabi – Mubasher: The banks located in the UAE have raised their investments through debt securities on an annual basis by 30% or AED 41.8 billion, according to the latest data issued by the Central Bank of the UAE.
Banks’ investment by the end of November increased to AED 181.2 billion ($49.33 billion) this year from AED 139.4 billion ($37.94 billion) in the same period a year ago.
The UAE banks endorse their investment portfolio, aiming to diversify their income resources through fixed income, including interest from bonds that are acquired from local and international institutions, economic analyst Mohammad Al-Dhufairy said.
Focusing on debt bonds helps in facing the declining oil prices which reflected negatively on a number of economic sectors, the analyst added.
On a monthly basis, debt securities grew by 1.9% when compared with AED 177.7 billion in October, the central bank said.
Translated by: Ingy ElSafy
