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ABU DHABI / WAM
The UAE Central Bank has withdrawn AED 6.00 billion out of excess liquidity in the market during March after it met the market needs for cash in January and February.
The move fits within the Central Bank’s mandate to direct the country’s credit policy, and to regulate and oversee the monetary and banking policy, ensuring their alignment with the government’s general plan in a way that ultimately strengthens the domestic economy and assures financial stability.
Recent statistics released by the bank indicated a rise in the total value of certificates of deposits from AED128.3 billion in February to AED134.3 billion by the end of March.