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FinancialNews
11-03-20
Total value of fund transfers among UAE's banks grows 6.9 percent
(MENAFN) Figures released recently by CBUAE showed that, the 1st two months of 2020, the total worth of fund transfers between the UAE's banks increased 6.9 percent yearly to around AED1.8 trillion.
In the reference period, the banking fund transfers stood at AED 1.2 trillion while transfers among individual customers arrived at AED596.3 billion, as said by the apex bank; the transactions are made through the UAE Fund Transfer System, UAEFTS that allows the lenders to do all interbank local fund transfers.
January witnessed total transfers of AED948 billion on a monthly basis, a 4.6 percent expansion over the same month last year and in February they dropped to AED847 billion, 8 percent up from same month in 2019.
MENAFN1103202000450000ID1099832747
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