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ABU DHABI / WAM
Government deposits in UAE-based banks hit an all-time-high of AED286 billion by the end of September 2018, up AED74 billion in the first nine months of the year, according to the Central Bank of the UAE statistics.
The growth is attributed to rising oil prices, which grew by 35 percent during the past 12 months, reflecting positively on the total assets of the banking sector. Government fiscal surpluses since the beginning of the year amounted to AED186 billion, according to the Ministry of Finance statistics.