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UAE interbank transfers hit AED 1.1trn in 2M

UAE interbank transfers hit AED 1.1trn in 2M
The total transfers during January and February recorded around AED 604.3 trillion

Abu Dhabi – Mubasher: The total value of fund transfers among the UAE's banks through the UAE Fund Transfer System (UAEFTS) registered AED 1.132 trillion in the first two months of 2018, according to the central bank’s data.

The total transfers during January and February – around AED 604.3 trillion and AED 528.23 trillion, respectively – made up 13% of the recorded interbank transfers in 2017, AED 8.7 trillion, the Emirates News Agency (WAM) reported.

Money deposits at the UAE's central bank during the two months reached AED 36.7 billion; AED 36.683 billion in bank notes and AED 16 million in coins, the data showed.