UAE Central Bank data showed that cash deposits increased to AED 712.3 billion in December 2023, an increase of 12.07 percent, or AED 76.7 billion in 2023, compared to AED 635.6 billion in December 2022.
Cash deposits increased month-on-month by 4.40 percent, equivalent to AED 30 billion compared to AED 682.3 billion in November 2023. On a monthly basis, quasi-cash deposits increased by 4.93 percent, or AED 56.1 billion, to AED 1.194 trillion, compared to AED1.138 trillion in November 2023. While it increased during 2023 by 23.6 percent, or the equivalent of 228 billion dirhams, compared to 966.1 billion dirhams at the end of last year.
Source (Al Khaleej Emirati Newspaper, Edited)
