UAE banking sector transfers reached AED 1,512 trillion in January 2024
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The value of transfers executed in the UAE banking sector through the UAE Fund Transfer System (UAEFTS) reached approximately AED 1,512 trillion in January 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE ).
The banking operations statistics published by the central bank Today showed that the value of transfers executed through the system increased annually by 24.4 percent compared to transfers totaling approximately AED 1.215 billion executed during January 2023.
According to statistics, transfers executed during January 2024 were distributed with AED 973.6 billion in interbank transfers and AED 538.9 billion between bank clients.
The UAEFTS is the main transfer system developed by the CBUAE since August 2001, facilitating instant money transfers between entities participating in the system.
He of the central bank Statistics showed that the value of checks cleared using the Image Check Clearing System (ICCS) reached AED 109.4 billion, spread across 1.965 million checks during January 2024, with an annual increase of 11.8 percent in value and a 7.7 percent increase in number in comparison. to January 2023.
On the other hand, statistics showed that the value of cash deposits at the central bank during January 2024 reached AED 15.466 billion, while the value of cash withdrawals reached approximately AED 14.9 billion.
News source: Emirates News Agency
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