UAEFTS processes AED 19.89 trillion in transactions in 2024
The figures are a year-on-year increase of 15.9 per cent, compared to transactions totalling AED 17.159 trillion carried out during the same period in 2023.
According to the Monthly Banking Operations Statistics (2019- 2024), issued by the CBUAE on Thursday, bank transfers increased by approximately 13.3 per cent to AED 12.491 trillion in 2024, compared to AED 11.018 trillion in 2023. Meanwhile, customer transfers rose by about 20 per cent, surpassing AED 7.4 trillion in 2024, compared to approximately AED 6.14 trillion in 2023.
On a monthly basis, the value of transfers increased in December 2024 to approximately AED 1.878 trillion, compared to around AED 1.707 trillion in December 2023.
Regarding circulated checks, banking transaction statistics showed a 5.66 per cent increase in the value of checks processed using the Image Cheque Clearing System (ICCS), surpassing AED1.334 trillion in 2024, compared to AED1.263 trillion in 2023.
The total circulated checks reached 22.59 million in 2024, compared to 22.12 million in 2023.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
16 minutes ago
- Gulf Business
UAE Central Bank fines foreign bank $163,000 for non-compliance
The The sanction follows examinations carried out by the CBUAE, which found that the branch had failed to meet the requirements set out in the Market Conduct and Consumer Protection Regulations and Standards. Read: In a statement, the CBUAE reaffirmed its commitment to ensuring all banks and their employees comply with UAE laws and the regulatory framework established by the Central Bank. These efforts are aimed at safeguarding transparency and upholding the integrity of the banking sector and the broader financial system.
Arabian Business
2 hours ago
- Arabian Business
UAE central bank fines foreign bank branch $164,000 for regulatory violations
The Central Bank of the UAE (CBUAE) has imposed a financial sanction of AED 600,000 on a branch of a foreign bank operating in the UAE for failing to comply with regulatory requirements. The penalty was issued pursuant to Article 137 of the Decretal Federal Law No. 14 of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. The financial sanction stems from findings during examinations conducted by the CBUAE, which revealed that the foreign bank branch had failed to comply with the Market Conduct and Consumer Protection Regulations and Standards. The CBUAE stated that through its supervisory and regulatory mandates, it 'works to ensure that all banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system.' The central bank did not identify the specific foreign bank branch that received the penalty. The enforcement action demonstrates the CBUAE's commitment to maintaining regulatory compliance across all banking institutions operating within the UAE's financial system.
Web Release
6 hours ago
- Web Release
Al Hamra lance deux projets résidentiels : Al Hamra Greens et Aila Homes, d'une valeur combinée de 3 milliards d'AED
Al Hamra, the leading lifestyle developer and real estate investment company in Ras Al Khaimah, has officially launched two landmark residential developments Al Hamra Greens and Aila Homes — with a combined investment value exceeding AED 3 billion. The launch event, held on 5th July at Madinat Jumeirah, Dubai, welcomed over 1,000 brokers and industry stakeholders. Located in Al Hamra Village, both projects highlight the developer's focus on design-led, high-quality living. Al Hamra Greens is a wellness-centric community inspired by Scandinavian design and rooted in the philosophy of 'Reconnect with Living.' Located opposite RAK Central, it offers breathtaking views of RAK's urban hub, the Al Hamra Championship Golf Course, and Wynn Al Marjan Island. The project comprises 1,754 apartments in 1 to 3 bedroom layouts, all with private balconies for seamless indoor-outdoor living. Starting from AED 1.2 million, the development boasts an array of amenities including lush gardens, BBQ terraces, paddle tennis and basketball courts, jogging and cycling tracks, kids' play zones, a pet park, a wellness spa, and a gym with panoramic views. Over 38% of the project sold out within 24 hours of launch. Aila Homes, launched alongside, features 200 upscale 3- and 4-bedroom townhouses with modern architecture, spacious layouts, private gardens, and direct access to community facilities. With more than 50% sold before the official launch, Aila Homes reflects strong demand for ready-to-move family homes in the emirate. Benoy Kurien, Group CEO of Al Hamra, said: 'These launches respond directly to growing customer demand for meaningful, nature-rooted lifestyles and community living. They mark a key milestone in Al Hamra's growth journey and our commitment to delivering value-driven developments. Residents of both communities will benefit from the wider Al Hamra ecosystem, including a championship golf course, a 220-berth marina, and luxury hospitality assets like Waldorf Astoria, The Ritz-Carlton, Sofitel, and Al Hamra Village Hotel & Residences. Looking ahead, Al Hamra is expanding into ultra-luxury with Waldorf Astoria Residences, Ras Al Khaimah, The Ritz-Carlton Residences, Al Wadi Desert, and it's first Dubai project, reinforcing its position as a key player in the UAE's real estate sector.
