Friday 24 November 2017
 
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Central Bank

UAE banks post profits of $7.8bn in nine months

Banks operating in the UAE posted profits of Dh28.8 billion ($7.8 billion) during the first nine months of 2017, a growth of 8 per cent over the corresponding period last year, said the Governor of the UAE Central Bank. Mubarak Ra

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UAE banks top GCC peers with $720bn in assets

The asset value of 48 banks operating in the UAE amounted to around Dh2.3 trillion (US$720 billion) by the end of September, according to UAE Central Bank statistics. This proves that the UAE banking system's solvency profile

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UAE cbank withdraws $2.2bn of surplus liquidity

The UAE Central Bank has withdrawn Dh8.2 billion ($2.2 billion) out of excess liquidity in the market during July after it pumped Dh11.3 billion in June, a report said. The move fits within the Central Bank's mandate to direct

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UAE cbank handles $241bn cheques in 7 months

A total of 17.815 million cheques worth Dh886.7 billion have been handled by the Cheque Clearing System during the first seven months of 2017, UAE Central Bank said. The number of cheques cleared during July reached 2.66 million w

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Bahrain medical insurance grows 19pc in 2016

Bahrain’s medical insurance led the sector growth at 19 per cent in 2016 reaching BD62.11 million ($163 million) from BD52.20 million in 2015, representing almost 23 per cent of the total premiums during the year, the Central Bank said.

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Short-term deposits in UAE banks hit $119bn in H1

The total value of short-term deposits in UAE banks reached Dh439.7 billion ($119 billion) by the end of June, rising by Dh27.9 billion during the first half of the year, according to UAE Central Bank statistics. According to Cent

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Bahrain issues crowdfunding regulations

The Central Bank of Bahrain (CBB) has released regulations for both conventional and Shari’a compliant financing-based crowdfunding businesses. For the first time it will be possible for small and medium sized businesses in

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Egypt foreign reserves hit $36bn, highest since 2010

Egypt's foreign reserves reached $36.036 billion at the end of July, returning to pre-2011 levels for the first time since the 25th January uprising, the Central Bank of Egypt (CBE) announced on Tuesday. Foreign net reserves j

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UAE surplus reserves surge to top $11.6bn in June

Surplus reserves at UAE banks and other financial institutions surged to Dh42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 per cent, or Dh18.7 billion, from Dh24.1 billion in the first month of the year 2017, according to UAE C

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UAE cbank foreign currency assets top $87bn

The UAE Central Bank's foreign currency assets increased 1.5 percent to Dh322.4 billion ($87.75 billion) during the month of May from Dh317.44 billion in April, according to statistics released Tuesday by the bank. The surge i

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