UAE Banking Sector Sees AED3.4 Trillion in Fund Transfers as Activity Surges
Bank-driven transfers led the surge, amounting to AED2.093 trillion in January and February combined. January accounted for AED1.1 trillion, while February saw AED983.99 billion in transactions. Transfers by customers and institutions also showed strong momentum, totaling AED1.327 trillion over the two-month period.
Cheque usage remained robust, with 3.875 million cheques processed via the Image Cheque Clearing System (ICCS) at a combined value of AED234.64 billion—up from AED216.218 billion during the same period in 2024. In February alone, 1.828 million cheques worth AED116.165 billion were circulated.
Cash activity through the Central Bank also reflected ongoing liquidity movement. Withdrawals hit AED41.131 billion, while deposits stood at AED31.115 billion over the two-month span.
Bank investments continued to grow, increasing 2.1 percent in February alone and 3.1 percent since the start of the year. Total investments climbed to AED758.5 billion by the end of February, compared to AED742.9 billion in January and AED735.6 billion at the close of 2024.
The latest figures underscore the UAE's strong financial momentum in early 2025, reflecting active institutional and consumer participation in the banking ecosystem and steady investment growth across the sector.
News Source: Emirates News Agency
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