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ABU DHABI/WAM
Banking operations statistics released on Thursday by the Central Bank of the UAE (CBUAE) showed that the value of transfers executed within the country’s banking sector through the UAE Funds Transfer System (UAEFTS) rose by 15.5 percent during the first two months of this year (January and February), reaching AED3.4 trillion compared to AED2.962 trillion during the same period last year.
Of this, the value of transfers executed by banks during the first two months of this year amounted to AED2.093 trillion, distributed as follows: AED1.1 trillion in January and AED983.99 billion in February.
Meanwhile, the value of transfers executed by customers and institutions during the same period reached AED1.327 trillion, broken down as: AED677.65 billion in January and AED649.48 billion in February.
As for cheques in circulation, the February banking operations statistics indicated that the value of cheques processed using Image Cheque Clearing System (ICCS) exceeded AED234.64 billion for 3.875 million cheques in the first two months of the year, compared to AED216.218 billion for 3.8 million cheques during the same period in 2024.
In February alone, the value of circulated cheques stood at AED116.165 billion for 1.828 million cheques.
According to Central Bank data, the value of cash withdrawals from the Central Bank during the first two months of the year reached AED41.131 billion. The value of cash deposits at the Central Bank totalled AED31.115 billion.
In addition, banking indicators showed that the value of bank investments increased by 2.1 percent on a monthly basis and 3.1 percent since the start of the year.
As of the end of February, total bank investments reached AED758.5 billion, compared to about AED742.9 billion at the end of January, and AED735.6 billion at the end of last year.