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Transfers between UAE banks hit AED6.6 trillion in 11 months

Banks’ transfers constituted 65 per cent of the total monthly transfers through the system

The total value of bank transfers carried out between banks operating in the UAE through UAEFTS during the past eleven months of 2015 amounted to AED6.6 trillion, compared with AED2.2trn during the same period of 2014, up by AED4.4trn, reveal statistics

According to Central Bank statistics, the value of the monthly rate of transfers, carried out between banks across the UAEFTS, rose to AED599.5 billion during the eleven months of this year, compared with AED200.5bn during the same period last year, Emarat Alyoum reports.

Banks’ transfers constituted the bulk or 65 per cent of the total monthly transfers through the system, while customers’ transfers constitute the rest of the transfers, reveal Central Bank statistics.

The statistics showed that the total value of cash deposits at the Central Bank reached AED233.16bn during the eleven months of 2015 and it reported that the total value of the cash withdrawn from the Central Bank during the eleven months of this year amounted to AED 232.5bn compared with AED242.2bn in 2014.