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UAE’s banks raise investments in bonds, stocks in April amid COVID-19 uncertainty

UAE’s banks raise investments in bonds, stocks in April amid COVID-19 uncertainty
Investments of banks in debt instruments rose by AED 1.8 billion YoY

UAE – Mubasher: Banks operating in the UAE increased their investments in bonds and stocks at the end of April as investors search for safe-haven investments amid the coronavirus (COVID-19) outbreak.

Investments of banks in debt instruments rose by AED 1.8 billion or 0.8% to AED 241.4 billion at the end of last April from AED 239.6 billion at the end of April 2019, according to data issued by the Central Bank of the UAE (CBUAE).

Month-on-month, banks’ investments in debt instruments advanced by AED 1 billion or 5.8% from AED 228.2 billion in March 2020.

Moreover, investments of banks in stocks increased by 2.2% to AED 9.3 billion in April from AED 9.1 billion a month earlier.