Skip to content Skip to Search
Skip navigation

Investments by UAE banks hit new record of $158bn

By Pramod Kumar
The UAE central bank headquarters. Investment in bonds reached 47% year on year to AED276bn by the end of August Wam
The Central Bank of the UAE maintained its base rate on overnight deposit facility at 5.40%

Investments by UAE banks in financial instruments hit a record high of AED580 billion ($157.91 billion) in August, the Central Bank of the UAE said.

Investment rose 19.5 percent year on year to AED585.4 billion until the end of August from AED489.8 billion a year earlier, the UAE state-run Wam news agency reported.

Bonds held until maturity accounted for the largest share of bank investments at 47 percent year on year to AED276 billion and up 3.4 percent month on month from AED266.8 billion up to July 2023.

Investments in debt bonds reached 42.1 percent year on year to AED246.5 billion, while share investments rose to AED 12.6 billion.

These investments do not encompass the bank’s deposits with the central bank, which includes certificates of deposit and cash bills, the central bank said.

The UAE’s revenues rose 31.8 percent in 2022, supporting an overall fiscal surplus last year, the country’s finance minister said last month.

Spending increased by 6.1 percent in 2022 year on year to stand at about AED427 billion, Wam cited the finance minister Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum as saying.

Latest articles

Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman. The country has long expressed an interest in developing a nuclear power sector

Sale of enriched uranium announced by Saudi Arabia

Saudi Arabia intends to export enriched uranium, the country’s energy minister, Prince Abdulaziz bin Salman, said on Monday. The announcement is the latest indication of Saudi nuclear ambitions.  Saudi Arabia has long expressed an interest in developing a nuclear power sector and has engaged in talks with the United States over nuclear cooperation, which were […]

Blair Kinghorn of Scotland scores a try against Australia at Murrayfield. The sides will compete in rugby's new Nations Championship, to be sponsored by Qatar Airways

Qatar Airways signs $97m deal to sponsor new rugby tournament

Qatar Airways has agreed a $97 million deal to sponsor the new World Rugby Nations Championship. The eight-year deal will cover the qualifying matches and finals for the first four editions of the rugby union tournament from 2026 to 2034. The agreement is the biggest title sponsorship in international rugby, according to The Guardian. The […]

Turkey truck Syria

Fall of Assad reopens Syria route to Gulf for Turkey’s truckers

The overthrow of the Bashar Al-Assad regime is great news for Turkey’s logistics sector, with hopes that the direct land route to the Gulf region through Syria may soon be re-established.  While there will be strong demand for logistics in Syria as the country rebuilds after 13 years of civil war, Turkey’s truckers are looking […]

Alba, which was launched in 1971 and employs 3,200 people, is the oldest aluminium smelter in the Middle East

Alba and Ma’aden end merger discussions

Aluminium Bahrain (Alba) and the Saudi Arabian Mining Company (Ma’aden) have ended talks over a merger of the two Gulf manufacturing giants. Discussions had been taking place since last year and it had been hoped that a deal could be completed in the first quarter of 2025, according to Alba’s chief executive, Ali Al Baqali. […]