Today: 5 July 2025
23 April 2023
1 min read

Islamic banks’ assets amounted to AED620.9 bn by Jan 2023

Total conventional bank investments recorded an annual increase of 12.9 percent to AED430.2 billion by the end of January 2023….reports Asian Lite News

The latest statistics issued by the Central Bank of the UAE (CBUAE) showed the gross assets of conventional banks operating in the country reached AED3.047 trillion by the end of January 2023, an annual increase of 12.8 percent, compared to nearly AED2.7 trillion in January 2022.

The Central Bank’s statistics indicated that conventional banks in the UAE accounted for nearly 83.1 percent of the total assets in the banking sector by the end of January 2023, which amounted to AED3.668 trillion, while Islamic banks accounted for 16.9 percent.

The total credit of conventional banks was AED1.477 trillion at the end of January 2023, an annual increase of 4.3 percent, while deposits in conventional banks increased to AED1.799 trillion at the end of January 2023, an annual increase of 15.2 percent.

Also, total conventional bank investments recorded an annual increase of 12.9 percent to AED430.2 billion by the end of January 2023.

Meanwhile, the latest statistics issued by the Central Bank of the UAE (CBUAE) showed the gross assets of conventional banks operating in the country reached AED3.047 trillion by the end of January 2023, an annual increase of 12.8 percent, compared to nearly AED2.7 trillion in January 2022.

The Central Bank’s statistics indicated that conventional banks in the UAE accounted for nearly 83.1 percent of the total assets in the banking sector by the end of January 2023, which amounted to AED3.668 trillion, while Islamic banks accounted for 16.9 percent.

The total credit of conventional banks was AED1.477 trillion at the end of January 2023, an annual increase of 4.3 percent, while deposits in conventional banks increased to AED1.799 trillion at the end of January 2023, an annual increase of 15.2 percent.

Also, total conventional bank investments recorded an annual increase of 12.9 percent to AED430.2 billion by the end of January 2023.

ALSO READ-China banking on weak Pak,Taliban regimes to counter India

Previous Story

UAE President invites President of Chad for COP28

Next Story

Limited evacuation of foreigners begins in Sudan

Latest from UAE News

G42 AI tool boosts procurement by 40%

Abu Dhabi’s tech giant leads the charge in AI-driven operational transformation with (In)Business Procurement platform. Abu Dhabi-based global technology powerhouse G42 has taken a major leap in enterprise digital transformation with the

ADX, banks launch region’s first digital bond

Abu Dhabi Securities Exchange (ADX) has launched the pricing phase for the region’s first distributed ledger technology (DLT)-based bond, setting a new benchmark in financial innovation and blockchain integration. The bond, issued

‘Hands off West Bank’

A wave of condemnation from across the Middle East and Muslim-majority nations has surged following calls by Israeli Justice Minister Yariv Levin to impose formal Israeli sovereignty over the occupied West Bank.

UAE credit soars to the top

S&P Global, Moody’s Investors Service, and Fitch Ratings — have all assigned strong sovereign credit ratings to the UAE In a strong show of confidence in the United Arab Emirates’ economic resilience

UAE powers up China ties

Dr Sultan Al Jaber’s China visit boosts UAE-China strategic ties, focusing on energy, renewables, and industrial cooperation amid record bilateral trade and sustainable development goals. The UAE has taken a significant step
Go toTop

Don't Miss

Global Leaders Overlooking Early Climate Warnings: King Charles

The King told delegates that the “hope of the world”

New Zealand PM hails CEPA with UAE 

He emphasised the strong bilateral relations, which have spanned 40