UAE money supply tops Dh1 trillion in May, spurred by rise in monetary deposits
In its Monetary & Banking Developments for May 2025, the CBUAE said that the money supply aggregate M2 increased by 1.6 per cent, from Dh2,435.6 billion at the end of April 2025 to Dh2,474.0 billion at the end of May 2025. M2 increased due to an elevated M1, and Dh34.7 billion increase in quasi monetary deposits.
The money supply aggregate M3 increased by 1.7 per cent, from Dh2,898.2 billion at the end of April 2025 to Dh2,948.1 billion at the end of May 2025. M3 increased due to the growth in M2, and Dh11.5 billion increase in government deposits.
The monetary base increased by 2.2 per cent, from Dh819.0 billion at the end of April 2025 to Dh836.7 billion at the end of May 2025. The increase in the monetary base was driven by increases in currency issued by 2.1 per cent, reserve account by 29.2 per cent, and in monetary bills and Islamic certificates of deposit by 6.6 per cent overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 48.8 per cent.
Gross banks' assets, including bankers' acceptances, increased by 2.7 per cent from Dh4.7498 trillion at the end of April 2025 to Dh4.8783 trillion at the end of May 2025.
Gross credit increased by 1.5 per cent from Dh2.2594 trillion at the end of April 2025 to Dh2.2934 trillion at the end of May 2025. Gross credit increased due to the combined growth in domestic credit by Dh7.1 billion and foreign credit by Dh26.9 billion. The growth in domestic credit was due to increases in credit to the; government sector by 2.0 per cent, private sector by 0.8 per cent, while credit to the public sector (government-related entities) decreased by 2.4 per cent, and non-banking financial institutions decreased by 2.5 per cent.
Banks' deposits increased by 1.8 per cent, from Dh2.9654 trillion at the end of April 2025 to Dh3.0185 trillion at the end of May 2025. The increase in bank deposits was driven by the growth in resident deposits by 1.9 per cent, settling at Dh2.7413 trillion and in non- resident deposits by 0.6 per cent, reaching Dh277.2 billion. Within the resident deposits; government sector deposits increased by 3.4 per cent, private sector deposits increased by 1.9 per cent, and government-related entities deposits increased by 1.3 per cent, while non-banking financial institutions deposits decreased by 6.1 per cent by the end of May 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
32 minutes ago
- Sharjah 24
Gross banks' assets reach AED4,878.3bn at end of May 2025: CBUAE
In its Monetary & Banking Developments for May 2025, the CBUAE said that the money supply aggregate M2 increased by 1.6%, from AED2,435.6 billion at the end of April 2025 to AED2,474.0 billion at the end of May 2025. M2 increased due to an elevated M1, and AED34.7 billion increase in Quasi Monetary Deposits. The money supply aggregate M3 increased by 1.7%, from AED2,898.2 billion at the end of April 2025 to AED2,948.1 billion at the end of May 2025. M3 increased due to the growth in M2, and AED11.5 billion increase in government deposits. The monetary base increased by 2.2%, from AED 819.0 billion at the end of April 2025 to AED836.7 billion at the end of May 2025. The increase in the monetary base was driven by increases in: currency issued by 2.1%, reserve account by 29.2%, and in monetary bills & Islamic certificates of deposit by 6.6% overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 48.8%. Gross banks' assets, including bankers' acceptances, increased by 2.7% from AED 4,749.8 billion at the end of April 2025 to AED 4,878.3 billion at the end of May 2025. Gross credit increased by 1.5% from AED2,259.4 billion at the end of April 2025 to AED2,293.4 billion at the end of May 2025. Gross credit increased due to the combined growth in domestic credit by AED7.1 billion and foreign credit by AED26.9 billion. The growth in domestic credit was due to increases in credit to the; government sector by 2.0%, private sector by 0.8%, while credit to the public sector (government-related entities) decreased by 2.4%, and non-banking financial institutions decreased by 2.5%. Banks' deposits increased by 1.8%, from AED2,965.4 billion at the end of April 2025 to AED3,018.5 billion at the end of May 2025. The increase in bank deposits was driven by the growth in resident deposits by 1.9%, settling at AED2,741.3 billion and in non- resident deposits by 0.6%, reaching AED277.2 billion. Within the resident deposits; government sector deposits increased by 3.4%, private sector deposits increased by 1.9%, and government-related entities deposits increased by 1.3%, while non-banking financial institutions deposits decreased by 6.1% by the end of May 2025.
Khaleej Times
an hour ago
- Khaleej Times
UAE's Fujairah marine fuel sales hit three-month high in July
Sales of marine bunker fuel at the UAE port of Fujairah rebounded in July after a slump in June to their highest in three months, Fujairah Oil Industry Zone data showed. July sales totalled 640,715 cubic metres (about 635,000 metric tonnes), up 13.8 per cent from June, based on FOIZ data published by SP Global Commodity Insights. The stronger volumes were led by a boost in high-sulphur marine fuel sales, which soared to their highest since January 2024, climbing 28.4 per cent from June to 205,597 cubic metres in July. A wider price difference between low-sulphur fuel oil and high-sulphur fuel oil likely drove more sales of the high-sulphur variety in July. The front-month hi-5 price spread, which reflects the premium of low-sulphur over high-sulphur fuel oil, hit a six-month high of over $95 a ton near mid-July, LSEG data showed. Meanwhile, low-sulphur marine fuel sales, including low-sulphur fuel oils and marine gasoils, rose 8.0 per cent to 435,118 cubic metres. The market share of high-sulphur bunkers widened to 32 per cent in July, while low-sulphur bunkers narrowed to 68 per cent.
Khaleej Times
an hour ago
- Khaleej Times
Nakheel awards Dh2.6b contract to develop Bay Villas community at Dubai Islands
Nakheel, a member of Dubai Holding Real Estate, has awarded a contract worth Dh2.6 billion to Fibrex Contracting for the construction of the Bay Villas project at Dubai Islands. Featuring 636 luxury units across five distinct property types, Bay Villas represents Nakheel's newest waterfront community development. Building on Nakheel's existing relationship with Fibrex Contracting, which included collaborative work on the District One West community in Mohammed Bin Rashid Al Maktoum City (MBRAMC), Bay Villas will feature a range of exclusive residences, including Townhouses, Semi-detached Villas, Garden Villas, Waterfront Villas and Beachfront Villas. Residents will also enjoy access to premium amenities, including three pool houses, a beach club, landscaped parks and more. Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: 'Our partnership with Fibrex Contracting marks a key milestone for Bay Villas, a landmark project that underscores our commitment to shaping Dubai's future through elevated spaces that residents can proudly call home. This development delivers on our vision of designing waterfront communities that prioritise wellbeing, luxury and privacy, all while offering residents an opportunity to enjoy the best of island living.' Positioned at prime locations along a promenade with exclusive beach access, the three-storey Beachfront Villas will feature six bedrooms, a show kitchen, a spacious rooftop lounge and terrace, and a dedicated dining space. Developed on expansive plots, the Waterfront Villas will enjoy panoramic vistas, while the Garden Villas will offer a peaceful escape amidst verdant, natural surroundings. The Semi-detached Villas are designed to deliver a contemporary community experience, while the Townhouses will be set within four- to six-home complexes with private gardens. Overlooking the Arabian Gulf, the Bay Villas development utilises traditional design elements, such as wooden finishes and arabesque detailing, reflecting Dubai's heritage while maximising natural light. Residents will enjoy a premium resort lifestyle, with a central park, swimming pools, sports facilities, children's playgrounds and lush green corridors that connect directly to the waterfront, with parks for walking, jogging and relaxation. Sufyan S. Saleh, Group Managing Director, Fibrex Contracting, said: 'Fibrex Contracting is proud to work with Dubai Holding Real Estate, the region's most distinguished and visionary developer, known for their exceptional track record in delivering iconic projects. This time, we are honoured to extend our successful collaboration to the prestigious Bay Villas project at Dubai Islands. As one of the UAE's leading construction groups, we are committed to delivering this flagship development on time, while adhering to the highest industry standards. Through advanced construction technologies, specialised in-house capabilities and our trusted supply chain network, we are well-equipped to bring this waterfront community to life.' Developed in line with the Dubai 2040 Urban Master Plan, Dubai Islands is a premium destination that spans five islands across 18.6 square kilometres. It includes approximately 59 kilometres of exclusive waterfront, over 20 kilometres of beaches, and extensive open spaces, along with parks, golf courses, promenades and cycling paths. Situated near Downtown Dubai and Dubai International Airport, it is within easy reach of world-class hotels, retail, dining, and entertainment venues.
