According to Amac News: Since the beginning of the year, the bank’s gold reserves have grown by more than 27.76%, or more than AED 5 billion, from AED 18.147 billion at the end of last year, according to the Central Bank of the Emirates. This information is provided in the Central Bank of the Emirates’ monthly statistics report for September, which was published today.
In parallel, the report showed that the value of demand deposits also increased by more than 3% to more than 1.083 trillion dirhams at the end of September, of which 781.528 billion dirhams were in local currency.
The report also added that the banking sector witnessed a significant increase in deposits, with savings deposits reaching 304.534 billion dirhams, of which about 256.6 billion dirhams were in local currency.
In addition, time deposits reached 888.473 billion dirhams, of which about 542.6 billion dirhams were in local currency.
The statistical report also showed a monthly increase in the UAE banking sector's net international reserves, which reached 1.317 trillion dirhams at the end of September, compared to 1.305 trillion dirhams at the end of August. This is an annual increase of approximately 15% from 1.145 trillion dirhams at the end of December last year.
The report also showed a significant increase in the value of transactions processed in the country's banking sector through the UAE Funds Transfer System (UAEFTS), which reached more than 14.338 trillion dirhams in the first nine months of this year.
The statistics also showed that the value of checks in circulation, based on their electronic images, exceeded 979.77 billion dirhams.
In addition, the value of cash withdrawals from the Central Bank of the Emirates from the beginning of the year to the end of September reached approximately 151.97 billion dirhams, while cash deposits with the Central Bank were about 140.83 billion dirhams.