The assets of Islamic banks operating in the UAE exceeded AED 740 billion at the end of May 2024, the highest in their history, according to the latest statistics from the Central Bank of the UAE.
Statistics showed that Islamic banks’ assets reached AED 740.5 billion at the end of last May, an annual increase of 12.2 percent. Compared to about 660 billion dirhams at the end of May 2023, an increase equivalent to 80.5 billion dirhams, while it increased on a monthly basis by 0.4 percent, or the equivalent of 3.1 billion dirhams, compared to about 737.4 billion dirhams in April 2024. During the first five months of 2024, it increased by 5.5 percent, or AED 38.6 billion, compared to AED 701.9 billion by the end of December 2023.
Source (Al Khaleej Emirati Newspaper, Edited)
