The total value of the UAE Central Bank's assets increased by about 1.5% on a monthly basis in the month of May, to reach 478.83 billion dirhams, compared to 471.95 billion dirhams in April 2021. The increase in the value of the Central Bank's assets reached 8% on an annual basis, compared to 443.4 billion dirhams in May 2020.
The value of the foreign assets of the Central Bank of the Emirates grew by about 2.2 percent on a monthly basis, and 4.2 percent since the beginning of the year to 402.34 billion dirhams.
The balance sheet of the Central Bank of the Emirates showed a continued decline in bank advances and loans from the Central Bank in May, as the banks paid about 1.73 billion dirhams of their obligations to the Central Bank, bringing the total of what they have paid since the beginning of the year to about 6.37 billion dirhams. And the total amount that it has repaid since July 2020, which is the highest level that loans and advances to banks have reached from the Central Bank as a result of the pandemic, is about 20.84 billion dirhams.
And the Central Bank of the Emirates, in light of the support plan that it approved since the beginning of the Covid-19 crisis, had provided zero-interest loans to banks to help them support customers affected by the pandemic, at a value of 50 billion dirhams. However, the return of economic activity helped reduce the need for support, so that banks began to pay their obligations, which rose to 44.72 billion dirhams in July 2020.
Loans to banks for the Central Bank amounted to about 23.88 billion dirhams at the end of last May, compared to 25.61 billion dirhams in April and about 30.25 billion dirhams at the end of 2020.
Source (Emirati Gulf newspaper, edited)
