The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Abu Dhabi / WAM
A total of 2.35 million cheques worth AED201.4 billion were handled by the UAE Clearing Cheque System during first two months of 2019, according to statistics released on Sunday by the Central Bank of United Arab Emirates (CBUAE).
The cheques handled during this period account for 19.25% of the total value of cheques handled throughout 2018, which stands at AED1.3 trillion. On a monthly level, 2.26mn cheques worth AED105.38bn were handled during January, while February saw handling of 2.095mn worth AED96.031bn.
March 2018 was the best performing month, during which a total of 2.4mn cheques worth AED118.5bn were handled followed by October, AED115bn; January AED112.3bn; and April AED112bn. The fair levels of in cheque handling is indicative of the momentum recorded by the country’s various business platforms which provide the main catalyst for economic growth nationwide.