15 hours ago
UAE Central Bank gold reserves hit $7.46bn in Q1 2025
The Central Bank of the United Arab Emirates (CBUAE) significantly expanded its gold reserves in the first quarter of 2025, adding AED4.444bn ($1.21bn) to reach a total of AED27.425bn ($7.46bn) by the end of March, up from AED22.981bn ($6.25bn) at the close of 2024.
The figures, published in the Central Bank's latest statistical bulletin, highlight robust activity across the UAE's banking sector, with notable growth in deposits and electronic transfers.
CBUAE statistics
Demand deposits climbed to AED1.147tn ($312.24bn), up from AED1.109tn ($302.04bn) at the end of December 2024. This included AED856.062bn ($232.92bn) in local currency and AED291.116bn ($79.3bn) in foreign currencies
Savings deposits increased to AED338.788bn ($92.2bn), up from AED317.48bn ($86.4bn)
Time deposits reached AED991.757bn ($269.9bn), with AED614.854bn ($167.5bn) in local currency and AED376.9bn ($102.4bn) in foreign currencies
Total transfers conducted through the UAE Funds Transfer System (UAEFTS) hit AED5.449tn ($1.48tn) in Q1 2025. These comprised:
AED3.331tn ($903.5bn) in bank-to-bank transfers
AED2.118tn ($574.4bn) in customer transfers
The value of cheques cleared via digital imaging in the first three months of 2025 stood at AED351.359bn ($96bn) across 5.615 million cheques. In March alone, AED116.712bn ($31.8bn) worth of cheques were processed.
Meanwhile, cash withdrawals from the Central Bank during Q1 totalled AED63.887bn ($17.39bn), while cash deposits reached AED47.124bn ($12.83bn).
