|09 September, 2019

Bahrain’s money supply rises 8.5%

The Central Bank of Bahrain's data also shows an increase in local non-bank deposits

The Central Bank of Bahrain is seen in Manama. Image for illustrative purposes.

The Central Bank of Bahrain is seen in Manama. Image for illustrative purposes.

REUTERS/Hamad I Mohammed

MANAMA: Bahrain’s (M3) money supply increased by 8.5 per cent reaching BD13,363.3 million as of end-July, compared with BD12,314.1m as of end-July last year, shows data from the Central Bank of Bahrain (CBB).

The regulator’s monthly statistical bulletin for the first month of the second half this year indicates an overall improvement in monetary and banking indicators.

Total outstanding balance of public debt instruments which includes development bonds, treasury bills, Islamic leasing securities and Al Salam Islamic securities dropped at the end of July to BD11,293.4m from BD11,501m in July 2018.

The data also indicated an increase in the total balance sheet of the banking system from BD190.8 billion at the end of July 2018 to BD200.8bn at the end of July 2019, an increase of BD10bn, or 5.2pc in the 12-month period.

Total value of outstanding loans and credit facilities provided by retail banks amounted to BD9,816.6m at end of July 2019 compared with BD9,203.2m at the end of July 2018, an increase of 6.7pc.

This amount includes loans and facilities provided to the business sector amounting to BD5,172.5m at the end of July 2019 compared with BD4,912.9m at the end of the same period last year.

The data indicates that credit card and debit card transactions across point of sales (POS) terminals amounted to BD224.6m in July 2019 compared with BD185.6m in July 2018; marking a significant increase of BD39m, or 21pc.

The balance sheet of retail banks increased by BD2.8bn, or 8.8pc, reaching a total of BD34.7bn at the end of July 2019 compared with BD31.9bn as at end-July 2018.

The data also shows an increase in local non-bank deposits which amounted to BD12.8bn at the end of July 2019 compared with BD11.8bn at the end of July 2018, an increase of 8.5pc.

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