According to central bank's statistics, Banks’ investments rose in the first eleven months of 2022 by $10 billion or 8 percent, compared to $129 billion in 2021.

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased by 0.7 percent, rising from $983 billion at the end of October 2022 to $988 billion at the end of November 2022. According to figures published in CBUAE's November summary...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under the Central Bank of Egypt, discussed ways to promote cooperation in the field of training and building human capital capabilities relevant to the financial sector. This came during a meeting...

According to the Apex Bank, Islamic banks' credit climbed by 5.7 percent year-on-year to $108 billion by the end of last October.

The guidance, which comes into effect immediately, will assist LFIs’ understanding of risks and effective implementation of their statutory AML/CFT obligations, and takes Financial Action Task Force (FATF) standards into account. The Guidance requires LFIs to demonstrate compliance with its requirements.

The latest statistics of the Central Bank attributed the monthly increase in foreign assets to the rise in bank balances with banks abroad by 2.2 percent.

Abu Dhabi, UAE-- The Central Bank of the UAE (CBUAE), in cooperation with Abu Dhabi Ports, issued 1,000 commemorative silver coins on the 50th anniversary of Zayed Port and the 10th anniversary of Khalifa Port. The issuance of these commemorative coins highlights the successes achieved by the ports of Abu...

Abu Dhabi, UAE---The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for the Licensed Financial Institutions (LFIs) in the insurance sector comprising insurance and re-insurance companies, agents and brokers. The guidance, which comes into effect immediately, will...

The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached $196 billion at the end of August.

In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including tourism, hospitality, real estate and manufacturing.

According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion.

The apex bank "will continue to take all measures to ensure the maintenance of the integrity of the financial system and ensure the compatibility of all financial transactions in the UAE to the requirements guaranteed by the system of registered hawala brokers,” he adds.

The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE.

Abu Dhabi, UAE---The Central Bank of the UAE launched an AED-1000 denomination note as part of the country's 51st anniversary celebrations. Made of polymer and using innovative designs and advanced security features, the note is the fourth in the Third Issuance of the National Currency Project. The new banknote will...

The Money Supply aggregate M2 increased by 1.4 percent from $437 billion at July end to $443 billion at the end of August.

The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1,000 silver commemorative coins to mark the 30th anniversary of Tawazun.

The Ministry of Human Resources and Emiratization (MoHRE) of UAE announced that an 'Unemployment Insurance Scheme' for employees of the federal government and the private sector has come into force.

Taking a cue from Federal Reserve, GCC central banks have raised interest rates, tracking a hike in the US Fed's benchmark rate. The US central bank announced its third consecutive interest rate increase of 0.75 percentage point, continuing the forceful action to tamp down inflation that has surged to the...

The fourth auction, which witnessed the first issuance of five-year T-Bonds saw a strong demand through the six primary bank dealers, with bids received worth AED 8.60b, and an oversubscription by 5.7x.

Based on June data of Saudi and UAE central banks, the aggregate assets of Saudi banks (3.529.1 trillion) exceeded those of UAE peers (AED 3.449.2 trillion) for the first time since 2007, taking into account the official exchange rate of AED 1 equals SAR 1.02.

In its June 2022 report, CBUAE noted that the number of employees in the country’s banking sector increased to 34,332 at the end of the first half of 2022.

The Central Bank of the UAE (CBUAE) has announced the launch of a new corporate website with various interactive digital services in promoting financial stability and meeting the aspirations of the consumers.

The Central Bank of the United Arab Emirates has issued its Financial Stability Report for 2021, which outlines the measures taken by the CBUAE to support the national economy during the COVID-19 pandemic and safeguard the stability of the financial system.

Total assets of the 22 national banks rose to US$816.8 billion (AED 3.023 trillion) in the first five months of 2022, up four percent from US$31.9 billion (AED 117.3 billion), according to latest statistics released by the UAE Central Bank (CBUAE).

The Central Bank of the UAE (CBUAE) has decided to increase the debt burden ratio of the beneficiaries of home finance of the Sheikh Zayed Housing Program (SZHP) from 50% to 60%.

Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion) in the first four months of 2022.

Financial sanctions covers banks’ failures to achieve appropriate compliance regarding required due diligence and reporting procedures and standards. All banks operating in the UAE were allowed ample time by the CBUAE to implement the CRS.

While Saudi apex bank has raised its repurchase rate by 75 bps to 3%, and its reverse repo rate by a similar margin to 2.50% to restore price stability and fight inflation. The central banks in the UAE, Qatar and Bahrain also raised their rates to 2.4%, 3% and 3.25%,...

Common Reporting Standards is a global methodology for the automatic exchange of financial accounts and tax-related information with other financial regulatory organizations across the world through secure channels.

The CBUAE projected the real GDP growth to reach 5.4 percent in 2022, after the growth jumped to 3.8 percent in 2021.

The UAE Central Bank announced that the money supply aggregate M1 increased to AED 701.9 billion at the end of December 2021.

The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and up to KRW6.1 trillion for five years.

Four Gulf Arab central banks followed in the footsteps of the US Federal Reserve and raised interest rates by a quarter percentage point for the first time since 2018.

The new rates are said to be effective from Thursday, March 17.

The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent.

The proposal was mooted at the apex bank's fifth board meeting chaired by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Chairman of the Board of Directors of the Central Bank of United Arab Emirates. 

The new issue is the first banknote made of polymer material to be circulated in the UAE. Polymer banknotes are said to be more durable and sustainable than traditional cotton paper banknotes, lasting two or more times longer in circulation. The polymer can be completely recycled, thus reducing their environmental...

CBUAE and ADGM will collaborate on the development and growth of the FinTech ecosystem in the UAE.

The deposits rose to AED1,928.7 billion at the end of August from AED1,915.1 billion at the end of July.

The CBUAE has in a study found that central bank digital currencies can substantially improve international trade payments.

Taking a strong stance against money laundering, the Central Bank of the UAE (CBUAE) has issued a new guidance on transaction monitoring and sanctions screening for its licensed financial institutions (LFIs) that aims to promote anti-money laundering.

The Central Bank of the United Arab Emirates (CBUAE) has unveiled the Retail Payment Services and Card Schemes Regulation.

Pandemic resulted in banks’ higher impairment charges, lower operating income and reduced profitability The report demonstrates that the UAE banking sector remains resilient, with sustained lending capacity The Central Bank of the UAE (CBUAE) expects the UAE GDP to grow by 2.4 percent in 2021 and 3.8 percent in 2022...

The move comes after the US Federal Reserve increased the interest on excess reserves by 5 bps In the UAE, the one-year deposit facility booked a significant rise to 0.748 bps on Jun 17 Interest rates that are based on the Emirates Inter-Bank Offered Rate or EIBOR rose across the...

The steady growth in liquidity is a new sign of the gradual economic recovery Liquid assets accounted for 15.9 percent of the total assets by the end of the reference quarter Liquid assets held by UAE-based banks increased 2.6 percent to Dh486.58 billion ($132.48 billion) in first quarter (Q1'21) from...

Abu Dhabi’s quarterly average Financial Market Index rose by 17% in Q1 Dubai’s quarterly average Financial Market Index showed a growth of 9.2% The foreign assets held by the Central Bank of the United Arab Emirates (CBUAE) increased to AED392.4 billion ($106 bn) by the end of the first quarter...