The total assets of the UAE Central Bank increased by 2.9 percent on an annual basis, to reach to 459.98 billion dirhams by the end of last January, compared to 447.16 billion dirhams registered at the end of January 2020.
According to data issued by the UAE Central Bank, the total value of loans granted by the Central Bank to banks decreased to 29.63 billion dirhams at the end of last January, compared to 30.25 billion dirhams at the end of December 2020. The value of credit granted to banks against the backdrop of the support plan in the face of the consequences of the pandemic from 0.04 billion dirhams in February 2020 to 8.55 billion dirhams in March of last year, and it continued to rise sharply to reach its highest levels in the three months from June until August 2020, at a level that reached 44.72 billion dirhams in July, to gradually decline after that, with banks paying their obligations to the central bank in the wake of the opening of the economy and the resumption of activity in many of its sectors.
According to the central bank, the monetary base in the UAE increased by about 2 percent during the month of January on an annual basis, amounting to 416.9 billion dirhams, compared to 408.5 in January 2020. While the certificates of deposit increased by 4.6 percent on a monthly basis to 135.3 billion dirhams.
Source (Al Khaleej Newspaper-UAE, Edited)
