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UAE Central Bank deposit falls by Dh9b in July

Abu Dhabi - The central bank said the money supply aggregate M1 decreased by 0.7 per cent month-over-month to Dh460.8 billion at the end of July 2015.

Deposits at the UAE Central Bank and financial institutions fell by Dh9.1 billion during July 2015, reaching Dh1.4352 trillion. The decline was a result of a drop of Dh6.6 billion in resident deposits and a smaller drop of Dh2.5 billion in non-resident deposits, said the Central Bank of the UAE.
Gross bank assets, including bankers' acceptances, declined 0.5 per cent month-over-month to Dh2.408 trillion at the end of July 2015. Gross credit increased by 0.3 per cent to Dh1.450.6 trillion at the end of July 2015.
The central bank said the money supply aggregate M1 decreased by 0.7 per cent month-over-month to Dh460.8 billion at the end of July 2015.
Money supply aggregate M2 decreased by 0.4 per cent to Dh1.184.7 trillion; money supply aggregate M3 fell 0.5 per cent Dh1.347.9 trillion in the same period.
- haseeb@khaleejtimes.com