Bank lending growth in the UAE rose to 8.8 per cent year-on-year in June, its highest rate this year, from 8.0 per cent in May, central bank data showed on Thursday.

But money supply (M3) growth dropped to 1.0 per cent, its lowest rate since July 2012, from a revised 2.8 per cent. The central bank attributed this to a fall in monetary deposits and government deposits. - Reuters