Abu Dhabi - Mubasher: The UAE Central Bank has withdrawn AED 8.2 billion out of excess liquidity in the market during July after pumping AED 11.3 billion in June.

Emirates News Agency (WAM) reported that the move fits within the central bank's mandate to direct the country's credit policy, and to regulate and oversee the monetary and banking policy, ensuring their alignment with the government's general plan in a way that ultimately strengthens the domestic economy and assures financial stability.

Total value of certificates of deposits increased from AED 102.8 billion to AED 111 billion by the end of July, as shown by the recent statistics released by the central bank.