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FinancialNews
11-02-20
Worth of liquidity withdrawn by CBUAE from market in 2019 totals AED22 billion
(MENAFN) The Central Bank of the UAE, CBUAE has withdrawn a worth of AED22 billion of liquidity from the market in 2019, which shows the over liquidity in the UAE's banking system.
The CBUAE runs the country's financial policy to serve the national economy generally, through different instruments.
Certificates of Deposit (CDs) show one of the CBUAE's tools for implementing its financial policy and running liquidity in the market.
In 2019, the total balance of CDs grew to AED160.2 billion an increase of 15.9 percent in comparison with AED138.2 billion in 2018, according to statistics from the apex bank.
The 1st quarter of 2019 saw a rise of around AED139.2 billion in the balance of CDs held by the bank while in the 2nd quarter of the same year, this amount was AED155.8 billion, as the figures showed.
MENAFN1102202000450000ID1099685012
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