Financial transfers through UAE banks amounted to approximately 3 trillion dirhams in two months
Abu Dhabi, April 30 / WAM / The value of transfers carried out in the country’s banking sector through the UAE Financial Transfer System (UAEFTS) exceeded 3 trillion dirhams during the months of January and February, according to the latest statistics of the UAE Central Bank.
Banking operations statistics, issued by the Central Bank today, showed that the value of transfers carried out through the system amounted to 2.962 trillion dirhams during the period from January to last February, an increase on an annual basis of 22 percent compared to transfers worth about 2.43 trillion dirhams, carried out during the same period. From the year 2023.
According to statistics, the transfers carried out during the first two months of this year were distributed at 1.883 trillion dirhams in transfers between banks, and 1.078 trillion dirhams in transfers between bank customers. Transfers were distributed at 1.512 trillion dirhams in January and 1.449 trillion dirhams in February.
It is noteworthy that the UAE Financial Transfer System “UAEFTS” is the main transfer system that has been developed at the Central Bank of the UAE since August 2001, as this system facilitates the transfer of funds between entities participating in the system instantly.
In another context, Central Bank statistics showed that the value of clearing circulated checks using their images amounted to 216.2 billion dirhams, distributed over 3.8 million checks during the months of January and February last. The clearing of circulated checks using their images was distributed at 109.47 billion dirhams for about 1.965 million checks in January. And 106.7 billion dirhams for about 1.837 million checks in February.
On the other hand, statistics showed that the value of cash deposits in the Central Bank during the past January and February reached 28.978 billion dirhams, and included 28.97 billion dirhams in deposits in paper currencies and 27.5 thousand dirhams in coins.
The value of cash withdrawals from the Central Bank reached about 32.5 billion dirhams during the past months of January and February, and included 32.539 billion dirhams in withdrawals in paper currencies, and 9.842 million dirhams in coins.
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