Latest news with #UAEFundsTransferSystem
Arabian Post
2 days ago
- Business
- Arabian Post
UAE Reserves Surge with Gold Holdings and Deposit Growth
The Central Bank of the UAE expanded its gold reserves by 19.3 per cent in the first quarter of 2025, adding AED 4.444 billion to bring the total to AED 27.425 billion as of 31 March, up from AED 22.981 billion at the close of 2024. The bank's latest statistical bulletin also reveals marked increases across demand, savings and time deposits, alongside robust payment-system activity. Heightened global market unpredictability and a strategic emphasis on diversifying reserve assets underpin the bank's move to bolster gold reserves, officials say. This reflects a continued shift toward safer, non‑interest-bearing assets amid sustained volatility. Deposit trends in the banking sector continued on an upward trajectory. Demand deposits reached AED 1.147 trillion by the end of March, up from AED 1.109 trillion in December, with AED 856.062 billion in dirhams and AED 291.116 billion in foreign currencies. Savings deposits rose to AED 338.788 billion from AED 317.48 billion at year-end, while time deposits touched AED 991.757 billion, including AED 614.854 billion in local currency and AED 376.9 billion abroad. ADVERTISEMENT Electronic transfers via the UAE Funds Transfer System surged to AED 5.449 trillion in Q1, comprising AED 3.331 trillion in interbank transfers and AED 2.118 trillion in customer transactions. Cheque-based payments showed significant volume: 5.615 million cheques totalling AED 351.359 billion were cleared through image-based processing, including AED 116.712 billion in March alone. Cash withdrawal and deposit activity remained vigorous. Withdrawals reached AED 63.887 billion, while deposits totalled AED 47.124 billion during the quarter. Analysts interpret these developments as a sign of deepening liquidity and enhanced confidence in the UAE's financial system. A senior economist at a regional bank commented: 'The scale of growth in both deposit categories and gold reserves reflects a deliberate strategy by the Central Bank to fortify the country's buffer against external shocks. Investors are clearly hedging against uncertainty by increasing exposure to tangible assets and maintaining high liquidity.' The economist also cautioned that global interest-rate fluctuations and geopolitical risks could influence the bank's future asset allocation decisions. The rise in gold reserves places UAE among regional central banks increasing non‑yielding assets. Analysts point to a broader trend, driven by concerns over inflation and currency volatility in key reserve currencies. A comparative report by a GCC central banking consortium notes that gold reserves across member countries grew by an average of 12 per cent in Q1, with the UAE outperforming peers. Within the banking sector, sustained deposit growth reflects resilient household and corporate savings. Strong currency‑hedged deposit figures—nearly AED 1.1 trillion in UAE dirhams—suggest that domestic confidence remains high in spite of global uncertainties. Meanwhile, foreign-currency deposits provide necessary coverage for international trade and investment. Rising transaction volumes through the UAEFTS, which processed transfers worth AED 5.449 trillion, underscore the depth of interbank activity and customer engagement. Stakeholders highlight the central bank's digital-clearing infrastructure as a key enabler in supporting large-scale financial flows with efficiency and security. Cheque transactions processed via imaging systems illustrate the continuing relevance of traditional payment instruments, even as the system adapts to technology-driven clearing processes. Meanwhile, high levels of cash withdrawals and deposits indicate ongoing demand for physical currency in everyday commerce and cash-based sectors. Central Bank officials, responding to questions from regional media, affirmed that quarterly data would continue to inform dynamic adjustments in reserve management and monetary policy. They emphasised readiness to tweak both tangible and liquid asset holdings as required to optimise financial stability and sovereign risk protection. Understanding the full impact of these developments requires monitoring global monetary shifts and upcoming fiscal announcements. Market observers will be watching for signals in the next Central Bank bulletin, particularly regarding foreign exchange reserves and gold holdings for subsequent quarters.
Sharjah 24
5 days ago
- Business
- Sharjah 24
CBUAE gold reserves rise 19.3% in Q1 2025
Increase in demand deposits According to the CBUAE's latest statistical bulletin, demand deposit balances grew to over AED1.147 trillion by the end of March 2025. This included AED856.062 billion in local currency and AED291.116 billion in foreign currencies, up from AED1.109 trillion in December 2024. Rise in savings deposits Savings deposits also saw an increase, reaching AED338.788 billion by the end of March, up from AED317.48 billion in December. Of this, AED268.97 billion were in local currency and AED51.817 billion in foreign currencies. Time deposits approach AED1 trillion Time deposits totalled AED991.757 billion at the end of Q1 2025. This figure includes AED614.854 billion in local currency and AED376.9 billion in foreign currencies. UAEFTS transfers reach AED5.4 trillion The UAE Funds Transfer System (UAEFTS) recorded a total of AED5.449 trillion in transfers during Q1 2025. This amount consisted of AED3.331 trillion in bank-to-bank transfers and AED2.118 trillion in customer transactions. Cheque transactions exceed AED351 billion In the first quarter, cheque transactions using image-based clearing reached AED351.359 billion across 5.615 million cheques. March alone saw 1.83 million cheques processed, amounting to AED116.712 billion. Cash withdrawals and deposits Cash withdrawals from the Central Bank during Q1 totalled AED63.887 billion, while cash deposits reached AED47.124 billion over the same period.
Hi Dubai
10-04-2025
- Business
- Hi Dubai
UAE Bank Investments Hit AED742.9 Billion in January, Marking 16.1% Annual Surge
Bank investments in the UAE continued their upward trajectory in January 2025, rising by AED7.3 billion month-on-month to reach AED742.9 billion, according to new data from the Central Bank of the UAE. This reflects a robust 16.1% increase compared to January 2024. Debt securities held by banks saw a significant rise, growing 26.1% annually to AED332.3 billion. Meanwhile, held-to-maturity bonds reached AED335.7 billion—up 7.9% year-on-year but down slightly by 1.1% from December 2024. Equity investments posted a strong 19.4% year-on-year gain, despite a 1.5% dip over the month, settling at AED19.1 billion. Other investment categories also showed resilience, climbing 13.2% year-on-year and 2.2% month-on-month to reach AED55.8 billion. This growth in investments coincides with a healthy expansion in the broader banking sector. Total credit extended by banks reached AED2.186 trillion, up 9.5% from the previous year. Deposits followed suit, rising 11.8% annually to surpass AED2.84 trillion. Banking sector assets stood at AED4.562 trillion by the end of January, marking an 11% year-on-year increase and a modest 0.1% uptick from December. In terms of liquidity and transaction activity, the UAE Funds Transfer System (UAEFTS) processed over AED1.786 trillion in January, a jump of more than 18%. This included AED1.109 trillion in interbank transfers and AED677.64 billion in customer transactions. Cheques cleared through image-based systems totalled AED118.48 billion across nearly 2 million cheques. Cash withdrawals from the Central Bank amounted to AED19.929 billion, while deposits reached AED15.217 billion. These figures reflect continued confidence in the UAE's banking sector, underpinned by strong investment appetite and expanding financial activity across key segments. News Source: Emirates News Agency
Zawya
10-04-2025
- Business
- Zawya
UAE banks investments reach $202bln by end of January
ABU DHABI: The total investments of banks operating in the UAE rose by 1 percent month-on-month, increasing by AED7.3 billion in January to reach AED742.9 billion by the end of the month, marking a 16.1 percent year-on-year growth compared to January 2024. According to banking indicators released today by the Central Bank of the UAE, bank investments in securities representing debt on others grew to AED332.3 billion at the end of January, reflecting a 26.1 percent annual increase. Held-to-maturity bonds rose by 7.9 percent year-on-year but declined by 1.1 percent month-on-month, reaching AED335.7 billion. Banks' investments in equities grew by 19.4 percent year-on-year, despite a 1.5 percent monthly decline, to settle at AED19.1 billion. Other investments increased by 13.2 percent year-on-year and 2.2 percent month-on-month, reaching AED55.8 billion at the end of January. This investment performance coincided with a 9.5 percent annual growth in total credit, which reached AED2.186 trillion, while total deposits grew by 11.8 percent annually to exceed AED2.84 trillion. Banking assets increased by 11 percent year-on-year and by 0.1 percent month-on-month to surpass AED4.562 trillion by the end of January. Statistics from the banking operations released today also showed that the value of transfers processed through the UAE Funds Transfer System (UAEFTS) exceeded AED1.786 trillion in January, reflecting a growth of more than 18 percent. This included AED1.109 trillion in interbank transfers and approximately AED677.64 billion in customer transfers. The value of cheques cleared via image-based processing reached AED118.48 billion in January, involving 1.956 million cheques. Cash withdrawals from the Central Bank amounted to AED19.929 billion in January, while deposits totalled around AED15.217 billion.
Al Etihad
09-04-2025
- Business
- Al Etihad
UAE banks investments reach Dh742.9 billion by end of January
9 Apr 2025 21:44 ABU DHABI (WAM)The total investments of banks operating in the UAE rose by 1 percent month-on-month, increasing by Dh7.3 billion in January to reach Dh742.9 billion by the end of the month, marking a 16.1 percent year-on-year growth compared to January to banking indicators released today by the Central Bank of the UAE, bank investments in securities representing debt on others grew to Dh332.3 billion at the end of January, reflecting a 26.1 percent annual bonds rose by 7.9 percent year-on-year but declined by 1.1 percent month-on-month, reaching Dh335.7 investments in equities grew by 19.4 percent year-on-year, despite a 1.5 percent monthly decline, to settle at Dh19.1 billion. Other investments increased by 13.2 percent year-on-year and 2.2 percent month-on-month, reaching Dh55.8 billion at the end of investment performance coincided with a 9.5 percent annual growth in total credit, which reached Dh2.186 trillion, while total deposits grew by 11.8 percent annually to exceed Dh2.84 assets increased by 11 percent year-on-year and by 0.1 percent month-on-month to surpass Dh4.562 trillion by the end of from the banking operations released today also showed that the value of transfers processed through the UAE Funds Transfer System (UAEFTS) exceeded Dh1.786 trillion in January, reflecting a growth of more than 18 percent. This included Dh1.109 trillion in interbank transfers and approximately Dh677.64 billion in customer value of cheques cleared via image-based processing reached Dh118.48 billion in January, involving 1.956 million cheques. Cash withdrawals from the Central Bank amounted to Dh19.929 billion in January, while deposits totalled around Dh15.217 billion.
