FINANCIAL NEWS

UAE’s Central Bank withdraws USD2.2bn of surplus liquidity

26 Aug 2017

(MENAFN) The UAE Central Bank has withdrawn USD2.2bn out of excess liquidity in the market amid July after it issued Dh11.3bn in June.

This move comes to fit the bank’s mandate in order to direct the nation’s credit policy, and to organize and oversee the monetary policy.

Recently, statistics exposed an increase in the whole value of certificates of deposits from Dh102.8bn to Dh111bn by the end of July.

Through the Jan-March period of the year, the bank pumped cash reaching Dh7.1bn, withdrawing part of it in April and May.

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MENAFN2608201700450000ID1095773391

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