UAEFTS processed Dh19.89 trillion in transactions in 2024

13 Mar 2025 14:54
ABU DHABI (WAM)The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to Dh19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).This represents a year-on-year increase of 15.9 percent, compared to transactions totalling Dh17.159 trillion carried out during the same period in 2023.According to the Monthly Banking Operations Statistics (2019- 2024), issued by the CBUAE on Thursday, bank transfers increased by approximately 13.3 percent to Dh12.491 trillion in 2024, compared to Dh11.018 trillion in 2023. Meanwhile, customer transfers rose by about 20 percent, surpassing Dh7.4 trillion in 2024, compared to approximately Dh6.14 trillion in 2023.On a monthly basis, the value of transfers increased in December 2024 to approximately Dh1.878 trillion, compared to around Dh1.707 trillion in December 2023.Regarding circulated checks, banking transaction statistics showed a 5.66 percent increase in the value of checks processed using the Image Cheque Clearing System (ICCS), surpassing Dh1.334 trillion in 2024, compared to Dh1.263 trillion in 2023.
The total circulated checks reached 22.59 million in 2024, compared to 22.12 million in 2023.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Al Etihad

7 hours ago

• Al Etihad

Abdulla Al Hamed meets Arab content creators in Cannes

21 June 2025 19:35 CANNES (WAM) Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office (NMO) and Chairman of the Board of Directors of the UAE Media Council, met with a number of Arab content creators during his participation in the Cannes Lions International Festival of Creativity in the French city of meeting was attended by Dr. Jamal Mohammed Obaid Al Kaabi, Director-General of the National Media meeting highlighted the upcoming BRIDGE Summit, scheduled to take place in Abu Dhabi this December, as a global platform for fostering media collaboration and developing an advanced media ecosystem that anticipates future Hamed affirmed that the summit provides a vital space for engagement, knowledge exchange and the creation of new media solutions that amplify the positive impact of content. He invited content creators to actively participate in the summit's activities, emphasising their pivotal role in shaping public awareness and delivering creative messages to diverse audiences across digital added that content creation has become a powerful tool for building awareness and culture, and an essential element in supporting the path of sustainable development. Al Hamed also stressed the importance of producing content that reflects Arab culture and issues and communicating them to global audiences, especially in relation to the aspirations of Arab youth for development and prosperity.

Al Etihad

11 hours ago

• Al Etihad

GCC visitors spending expected to reach $223.7 billion in 2034: GCC-Stat

21 June 2025 16:04 MUSCAT (WAM) The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) revealed that the expected spending by visitors to GCC countries is projected to reach $223.7 billion in 2034, while the expected contribution of incoming visitor spending to total exports will reach 13.4%.The Centre also indicated that GCC countries are achieving steady progress in many tourism-related data demonstrate that total international visitor spending in GCC countries amounted to $135.5 billion in 2023, with a 28.9% increase compared to the figures recorded in GCC countries ranked first in the Middle East and North Africa region's 2024 Safety and Security Index. All GCC countries scored above the regional average of 5.86 points, taking into consideration that the index ranges from 1 to 7 points. They also ranked among the top 6 countries in terms of passport power in the Arab region.

Gulf Today

a day ago

• Gulf Today

Gross banks' assets up by 1.9% to Dhs4,719.4 billion at end of March: CBUAE

The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from Dhs982.4 billion at the end of February 2025 to Dhs986.2 billion at the end of March 2025. The increase was due to Dhs5.1 billion growth in currency in circulation outside banks, overriding the Dhs1.4 billion decrease in monetary deposits. The money supply aggregate M2 increased by 3.3%, increasing from Dhs 2,360.3 billion at the end of February 2025 to Dhs2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and Dhs73.8 billion increase in Quasi-Monetary Deposits. The money supply aggregate M3 also increased by 2.9%, from Dhs2,811.7 billion at the end of February 2025 to Dhs2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and Dhs4.5 billion increase in government deposits. The monetary base increased by 2.0%, from Dhs816.6 billion at the end of February 2025 to Dhs833.1 billion at the end of March 2025. The growth in the monetary base was driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%. Gross banks' assets, including bankers' acceptances, increased by 1.9% from Dhs4,632.2 billion at the end of February 2025 to Dhs4,719.4 billion at the end of March 2025. Gross credit increased by 1.6% from Dhs2,204.3 billion at the end of February 2025 to Dhs2,240.0 billion at the end of March 2025. Gross credit increased due the combined growth in domestic credit by Dhs19.5 billion and foreign credit by Dhs16.2 billion. The growth in domestic credit was due to increases in credit to the; public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%. Banks' deposits increased by 2.3%, from Dhs2,871.5 billion at the end of February 2025 to Dhs2,936.4 billion at the end of March 2025. The increase in bank deposits was driven by the shared growth in resident deposits by 2.4%, settling at Dhs2,687.8 billion and in non- resident deposits by 0.4%, reaching Dhs248.6 billion. Within the resident deposits; government-related entities deposits increased by 4.3%, private sector deposits increased by 3.1% and non-banking financial institutions deposits increased by 5.1%, while deposits to the government sector decreased by 2.3%, by the end of March 2025. WAM