Latest news with #CBUAE
Al Etihad
2 hours ago
- Business
- Al Etihad
Gross banks' assets up by 1.9% to Dh 4,719.4 billion at end of March: CBUAE
20 June 2025 18:15 ABU DHABI (WAM) The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from Dh982.4 billion at the end of February 2025 to Dh986.2 billion at the end of March increase was due to the Dh5.1 billion growth in currency in circulation outside banks, overriding the Dh1.4 billion decrease in monetary money supply aggregate M2 increased by 3.3%, increasing from Dh 2,360.3 billion at the end of February 2025 to Dh 2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and Dh73.8 billion increase in Quasi-Monetary money supply aggregate M3 also increased by 2.9%, from Dh 2,811.7 billion at the end of February 2025 to Dh 2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and Dh 4.5 billion increase in government monetary base increased by 2.0%, from Dh 816.6 billion at the end of February 2025 to Dh 833.1 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 Dh 4,632.2 billion at the end of February 2025 to Dh 4,719.4 billion at the end of March credit increased by 1.6% from Dh 2,204.3 billion at the end of February 2025 to Dh 2,240.0 billion at the end of March 2025. Gross credit increased due to the combined growth in domestic credit by Dh 19.5 billion and foreign credit by Dh 16.2 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 Dh 2,871.5 billion at the end of February 2025 to Dh 2,936.4 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 Dh 2,687.8 billion and in non-resident deposits by 0.4%, reaching Dh 248.6 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.
Al Etihad
a day ago
- Business
- Al Etihad
CBUAE organises Climate Forum, ‘Network for Greening the Financial System' meeting in Abu Dhabi
19 June 2025 20:14 ABU DHABI (WAM)Under the Patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates (CBUAE), the CBUAE is organising its first Climate Forum and a meeting of the Network for Greening the Financial System (NGFS) at the St. Regis Saadiyat Island Resorts, Abu Dhabi, on June 26, two-day event demonstrates the CBUAE's commitment to driving sustainable finance and leading the transition towards a more sustainable financial system, in line with the UAE's vision to achieve net zero by Climate Forum brings together financial leaders, policymakers, international experts in sustainable finance and climate risks, and senior officials from regulatory bodies, central banks, and international financial aim is to exchange insights on ways to foster better integration of climate policies in risk management and investment and to explore effective solutions for enhancing financial sector resilience in the face of future climate and environmental will also address frameworks for activating regional and international cooperation in the areas of monetary policy, regulation and sustainable Islamic finance, thereby strengthening the complementary roles between the public and private sectors. This further underscores the UAE's growing position as a regional and international hub for leading the global dialogue on the future of sustainable NGFS meeting will be centred on 'greening' monetary policy frameworks. Discussions will focus on integrating climate change impacts into monetary policy formulation and operations, alongside reviewing the NGFS's latest work progress and plans. Since its inception in 2017, the NGFS has become a global force, uniting over 160 central banks and financial Mohamed Balama, Governor of the CBUAE, said, "The convening of the Climate Forum and the Network for Greening the Financial System meeting marks a milestone amidst the global shifts in economic policies and the growing climate challenges. In line with the wise leadership's vision for the UAE and its commitment to achieving net zero by 2050, the CBUAE continues to solidify its pivotal role in spearheading financial sustainability." He added, "This is achieved by strengthening the green finance infrastructure and developing regulatory frameworks that support the integration of climate risks within the financial sector's ecosystem, thereby enhancing its resilience, reinforcing its stability, and achieving the desired balance between economic growth and sustainability."
Zawya
a day ago
- Business
- Zawya
CBUAE signs MoU with CIPS to enhance cooperation in cross-border payments between the UAE and China
Abu Dhabi: The Central Bank of the UAE (CBUAE) and CIPS Co., Ltd. (CIPS), the operating institution of the Cross-Border Interbank Payment System of China, signed a Memorandum of Understanding (MoU) aiming at strengthening joint cooperation in the payment infrastructure landscape towards improving the efficiency of cross-border payments between the UAE and China. The MoU was signed by H.E. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Mr. Xiangyang WU, Vice President of CIPS in the presence of senior officials from both entities. As part of the MoU, the two parties will collaborate on designing and developing initiatives that foster the more seamless, streamlined, and cost-effective use of their payment infrastructures for cross-border transactions between the two countries. Furthermore, the parties will work to develop and strengthen their cooperation in risk and compliance, and share expertise to improve the security, safety, soundness, and stability of cross-border payment infrastructures." H.E. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE, said: "This MoU underpins both countries' efforts to cultivate strategic partnerships and reinforce our commitment to strengthening financial, trade, and investment cooperation, in line with the vision of the wise leadership. We look forward to keeping pace with developments in the global payments landscape and leveraging technology and innovation to stimulate economic and trade growth, develop the financial services sector in both countries, create innovative financial solutions for cross-border payments settlement, and facilitate transactions and reduce costs. This will contribute to enhancing the promising prospects for sustainable development and achieving the mutual interests of the two countries." Mr. Xiangyang WU, Vice President of CIPS, said: "Our cooperation with the Central Bank of the UAE will provide ample opportunities to strengthen relations between the two countries across the economic, trade, investment, financial, and banking sectors. This MoU reflects our shared desire to strengthen cooperation, exchange expertise, and leverage digital advancements to streamline the processing and settlement of cross-border financial payments more smoothly and efficiently between the two countries, and enable stakeholders to easily access payment services. This will facilitate the achievement of our common goals and support the continued prosperity of both our economies."
Zawya
a day ago
- Business
- Zawya
CBUAE organises climate forum and 'Network for Greening the Financial System' meeting in Abu Dhabi
Abu Dhabi: Under the Patronage of H.H. Sheikh Mansour Bin Zayed Al Nahyan Vice President, Deputy Prime Minister and Chairman of the Presidential Court, Chairman of the Board of Directors of the Central Bank of the United Arab Emirates, the CBUAE is organising its first Climate Forum and a meeting of the Network for Greening the Financial System (NGFS) at the St. Regis Saadiyat Island Resorts, Abu Dhabi, on 26 June 2025. The two-day event demonstrates the CBUAE's commitment in driving sustainable finance and leading the transition towards a more sustainable financial system, in line with the UAE's vision to achieve net zero by 2050. The Climate Forum brings together financial leaders, policymakers, international experts in sustainable finance and in climate risks, and senior officials from regulatory bodies, central banks, and international financial institutions. The aim is to exchange insights on ways to foster better integration of climate policies in risk management and investment, and to explore effective solutions for enhancing financial sector resilience in the face of future climate and environmental challenges. It will also address frameworks for activating regional and international cooperation in the areas of monetary policy, regulation and sustainable Islamic finance, thereby strengthening the complementary roles between the public and private sectors. This further underscores the UAE's growing position as a regional and international hub for leading the global dialogue on the future of sustainable finance. The NGFS meeting will be centred on 'greening' monetary policy frameworks. Discussions will focus on integrating climate change impacts into monetary policy formulation and operations, alongside reviewing the NGFS's latest work progress and future plans. Since its inception in 2017, the NGFS has become a global force, uniting over 160 central banks and financial supervisors. His Excellency Khaled Mohamed Balama, Governor of the CBUAE, said: "The convening of the Climate Forum and the Network for Greening the Financial System meeting marks a milestone amidst the global shifts in economic policies and the growing climate challenges. In line with the wise leadership's vision for the UAE and its commitment to achieving net zero by 2050, the CBUAE continues to solidify its pivotal role in spearheading financial sustainability. This is achieved by strengthening the green finance infrastructure and developing regulatory frameworks that support the integration of climate risks within the financial sector's ecosystem, thereby enhancing its resilience, reinforcing its stability, and achieving the desired balance between economic growth and sustainability."
Zawya
a day ago
- Business
- Zawya
CBUAE, CIPS sign MoU to enhance cooperation in cross-border payments between UAE, China
The Central Bank of the UAE (CBUAE) and CIPS Co., Ltd. (CIPS), the operating institution of the Cross-Border Interbank Payment System of China, signed a Memorandum of Understanding (MoU) aiming at strengthening joint cooperation in the payment infrastructure landscape towards improving the efficiency of cross-border payments between the UAE and China. The MoU was signed by Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Xiangyang WU, Vice President of CIPS in the presence of senior officials from both entities. As part of the MoU, the two parties will collaborate on designing and developing initiatives that foster the more seamless, streamlined, and cost-effective use of their payment infrastructures for cross-border transactions between the two countries. Furthermore, the parties will work to develop and strengthen their cooperation in risk and compliance, and share expertise to improve the security, safety, soundness, and stability of cross-border payment infrastructures. Saif Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE, said, "This MoU underpins both countries' efforts to cultivate strategic partnerships and reinforce our commitment to strengthening financial, trade, and investment cooperation, in line with the vision of the wise leadership. We look forward to keeping pace with developments in the global payments landscape and leveraging technology and innovation to stimulate economic and trade growth, develop the financial services sector in both countries, create innovative financial solutions for cross-border payments settlement, and facilitate transactions and reduce costs. This will contribute to enhancing the promising prospects for sustainable development and achieving the mutual interests of the two countries." Xiangyang WU, Vice President of CIPS, added, "Our cooperation with the Central Bank of the UAE will provide ample opportunities to strengthen relations between the two countries across the economic, trade, investment, financial, and banking sectors. This MoU reflects our shared desire to strengthen cooperation, exchange expertise, and leverage digital advancements to streamline the processing and settlement of cross-border financial payments more smoothly and efficiently between the two countries, and enable stakeholders to easily access payment services. This will facilitate the achievement of our common goals and support the continued prosperity of both our economies."
