The Central Bank of the UAE has reported a significant increase in its gold reserves, rising by approximately 19.3%, amounting to 4.444 billion AED during the first quarter of the current year. By the end of March, the reserves totaled 27.425 billion AED, compared to 22.981 billion AED at the end of last year.
In its latest statistical report, the central bank revealed that the value of demand deposits has exceeded 1.147 trillion AED at the end of March, up from around 1.109 trillion AED in December 2024.
As of the end of March, the breakdown of demand deposits included approximately 856.062 billion AED in local currency and around 291.116 billion AED in foreign currencies.
Furthermore, the value of savings deposits reached 338.788 billion AED by the end of March, compared to about 317.48 billion AED at the end of the previous December. Savings deposits in local currency were approximately 268.97 billion AED, while foreign currency savings deposits were about 51.817 billion AED.
For term deposits, the total value stood at 991.757 billion AED at the end of March, with 614.854 billion AED in local currency and 376.9 billion AED in foreign currencies.
Additionally, the central bank’s report indicated that the value of transfers conducted in the banking sector through the UAE Funds Transfer System (UAEFTS) reached 5.449 trillion AED. This amount comprised 3.331 trillion AED from transactions performed by banks and around 2.118 trillion AED from individual clients.
Regarding the circulation of checks, the banking operations statistic for March revealed that the total value of checks processed, using their images, exceeded 351.359 billion AED, encompassing approximately 5.615 million checks during the first three months of the year.
In March alone, the total value of checks circulated was around 116.712 billion AED, covering approximately 1.83 million checks.
According to the central bank’s data, cash withdrawals from the central bank during the first quarter of this year amounted to 63.887 billion AED, while cash deposits for the same period reached about 47.124 billion AED.