Wednesday 21 August 2019
 
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Central Bank

UAE banking investments hit $90bn in 11 months

UAE banking investments were on the rise during first 11 months of 2018, amounting to Dh331.1 billion ($90.1 billion) by the end of November, a growth of 6.4 percent as compared to December 2017, a media report said. Investment ve

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UAE bank deposits outvalue loans by $23bn

Deposits outvalued loans at UAE-based banks by Dh85 billion ($23 billion) during the first 11 months of 2018, a media report said, citing the Central Bank of United Arab Emirates. The Eligible Liquid Assets Ratio rose by the end o

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UAE banks' foreign reserves hit record $110bn

The net international reserves in the UAE banking sector hit an all-time high of Dh404.3 billion ($110 billion) by the end of November, up 23.1 per cent of Dh76 billion from Dh328.3 billion during the same month last year, a media report said.

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No VAT on financial services, says Bahrain cbank

The Central Bank of Bahrain (CBB) has confirmed that Article 54 of the Value Added Tax Law (VAT Law) provides that provision of financial services specified by the Regulation shall be exempt from the application of VAT. This exemp

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No VAT on financial services, says Bahrain cbank

The Central Bank of Bahrain (CBB) has confirmed that Article 54 of the Value Added Tax Law (VAT Law) provides that provision of financial services specified by the Regulation shall be exempt from the application of VAT. This exemp

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UAE Central Bank raises interest rates by 25bps

The Central Bank of the UAE (CBUAE) said that, effective December 20 it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Boa

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UAE monetary base up 6pc to $101bn

The UAE monetary base expanded 6.00 percent to an 11-month high of Dh371.6 billion ($101.1billion) by end of November from Dh350.6 billion by the end of October, a media report said. Certificates of deposits purchased by Banks sli

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UAE letters of guarantee hit $3.45bn in 9 months

The letters of guarantee issued by banks and other business entities in the UAE amounted to Dh12.7 billion during the first nine months of 2018, a growth of 15 per cent as compared to the end of 2017, a media report said. In Septe

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UAE banks open 50 new ATMs in 12 months

The past 12 months saw the introduction of 50 new automatic teller machines (ATM) across the country, reported state news agency Wam, citing Central Bank of UAE statistics. The continual rise in ATMs reflects the UAE bank

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New UAE law enhances Central Bank role

UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a key Federal Decree concerning the Central Bank and organisation of financial institutions and their activities.   The law represents a pa

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