UAE's liquid assets up to $132bln in first quarter of 2021: Central Bank

The steady growth in liquidity is yet a new sign of the gradual economic recovery

  
General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

Getty Images

ABU DHABI: Liquid assets held by UAE-based banks increased 2.6 percent to AED486.58 billion in Q1'21 from AED474.136 bn in the last quarter of last year, according to the UAE Central Bank's Core Financial Soundness Indicators report, released Monday.

The steady growth in liquidity is yet a new sign of the gradual economic recovery underway across all sectors, primarily the retail and commercial platforms, despite the economic fallout from the pandemic.

Liquid assets accounted for 15.9 percent of the total assets by the end of the reference quarter, according to the report.

Liquid assets consist of eligible liquid assets (cash in hand, banks' liquid assets at the Central Bank and eligible bonds/ sukuks as prescribed by CBUAE regulation) interbank placements; and interbank lending covered by repurchase agreements per the FSI Compilation Guide issued by IMF. Total assets are net off specific provision.

© Copyright Emirates News Agency (WAM) 2021.


More From GCC