Browsing Tag
Islamic Banks
2 posts
The total assets of Islamic banks reached AED650 billion by the end of March 2023, according to the CBUAE.
According to recent data released by the Central Bank of the United Arab Emirates (CBUAE), the total assets of Islamic banks operating in the country reached an impressive AED650 billion by the end of March 2023.
In January’s close, Islamic banks in the UAE held assets valued at $169 billion.
The latest report from the Central Bank of the UAE highlights the growing importance of Islamic finance in the region, with total customer deposits held by Islamic banks increasing by 5.7% to reach $128 billion and an array of innovative products and services being developed to cater to a diverse range of customers.