Picture shown is for illustrative purposes only.
The UAE Central Bank announced that money supply aggregates for currency circulation outside banks and monetary deposits, M1, increased by 0.5 per cent, from Dhs512.1 billion at the end of November 2019 to Dhs514.8 billion at the end of December 2019.
According to a press statement released by the Central Bank on Tuesday, money supply aggregates, M2, increased by 2.2 per cent, from Dhs1,380.5 billion at the end of November 2019 to Dhs1,411.5 billion at the end of December 2019.
The money supply aggregate, M3, also increased by 2.1 per cent, from Dhs1,682.3 billion at the end of November 2019 to Dhs1,717.4 billion at the end of December 2019, the statement added.
"The rise in M1 was due to Dhs0.7 billion and Dhs2 billion increases in currency in circulation outside banks and monetary deposits, respectively. M2 increased due to the increase in M1 and a Dhs28.3 billion increase in quasi-monetary deposits. M3 mainly increased due to increased M1 and M2, and a Dhs4.1 billion increase in government deposits," it noted.
According to Central Bank figures, gross bank assets, including bankers’ acceptances, rose by 1.4 per cent, increasing from Dhs3,043.1 billion at the end of November 2019 to Dhs3,085.8 billion at the end of December 2019.
Gross credit increased by 2.2 per cent from Dhs1,721.9 billion at the end of November 2019 to Dhs1,759.2 billion at the end of December 2019, the UAE's banking institution noted.
The Central Bank concluded, "During December 2019, total bank deposits increased by Dhs50.6 billion, attributable to Dhs33.6 billion and Dhs17 billion increases in resident deposits and non-resident deposits, respectively."
Nakheel’s customers include property owners, retail and hospitality tenants and small business operators. The package includes free rental periods for retail and hospitality partners who operate within the Nakheel Malls portfolio.
The event, organised by the UAE Space Agency, is the largest gathering of global space industry leaders in the Middle East and North Africa.
She is Modhi Al Ali, a young Emirati girl who has become part of Manchester City FC’s global campaign to get more women playing football.
European shares rose on Friday after upbeat industrial output data from Italy and France raised hopes of an economic recovery, even as a spike in coronavirus cases around the world kept gains in check.
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the IMF warned on Friday that cutting back too soon could undermine the recovery.
Construction Cost Index (CCI), remained unchanged in the first quarter of 2020 compared with the first quarter of 2019 with the index at 98.0 per cent in both corresponding quarters, according to official figures.