Central Bank Withdraws AED6.00 Billion Of Surplus Liquidity In MarchSource: www.export-egypt.com 4/22/2018, Location: Middle East |
|
|
|
|
|
The UAE Central Bank has withdrawn AED 6.00 billion out of excess liquidity in the market during March after it met the market needs for cash in January and February.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. Banking analysts view that UAE banks resuming their loans and credit facilities to different sectors across the country has necessitated a move by the Central Bank to regulate the cash flows and withdraw the cash surplus in order to retain economic resilience. Back to the first quarter of the year, the Central Bank pumped cash amounting to AED6.8 billion until the end of February, after withdrawing a considerable amount of funds during Q4 2017. As per official statistics, the total value of certificates of deposit fell from AED135.1 billion in December 2017 to AED132.4 billion in January 2018 and to AED128.3 billion in February, before rebounding to AED134.3 billion in March. The total value of liquidity withdrawn by the UAECB during 2017 amounted to AED26.9 billion. |
|
|
Financials and Investment News in United Arab Emirates >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |
