Browsing: cbuae

Banking

UAE Bank Fined $1.4M by Central Bank

Central Bank of the UAE has levied a financial penalty on a bank operating within the country after discovering breaches of regulations and compliance standards.

Banking

CBUAE: Banks’ Assets Exceed AED 4.3T by June

Central Bank of the UAE (CBUAE) reported that gross banks’ assets, including bankers’ acceptances, increased by 0.5% from AED 4.287T in May 2024 to AED 4.310T in June. Gross credit also rose by 1.1%, driven by a 0.8% increase in domestic credit and a 2.9% rise in foreign credit.

Business

UAE Banks Provide AED 49.5B Credit to Private Sector, Up 4.5%

Credit facilities extended by UAE national banks to the private sector reached AED49.5B during the first five months of 2024, raising the cumulative total to AED1.182T by the end of May, up from AED1.132T at the end of December 2023, marking a 4.5 percent growth, according to the Central Bank of the UAE (CBUAE).

Banking

CBUAE Enforces Sanction on UAE Insurance Firm

The Central Bank of the UAE (CBUAE) has issued an administrative penalty against an insurance company operating within the UAE, in accordance with Article 33 (2) (a) of Federal Decree-Law No. (48) of 2023, which governs the Regulation of Insurance Activities.

Business

UAE Banks’ Gross Assets Surge 10.8% in May

UAE banks’ gross assets, including bankers’ acceptances, rose by over 10.8% year-on-year (YoY), reaching AED 418.1B, bringing the total to AED 4.287T, up from AED 3.869T in May 2023, according to the Central Bank of the UAE (CBUAE).

Banking

CBUAE’s Balance Sheet Reaches AED 790B in April, Up 25% YoY

The Central Bank of the UAE (CBUAE) reported a record balance sheet of AED 789.82B by the end of April 2024, marking the first time it has reached this level. This represents a year-on-year increase of 25 percent from approximately AED 631.63B in April 2023, according to a report released by the CBUAE today.