An increase of 167.5% during the first 11 months of 2020

10.7 billion dirhams, the balance of the "central" gold at the end of November

The UAE’s gold possession amounted to 46.4 tons at the end of last October.


The Central Bank continued to increase its balance of gold bullion as one of its assets, to reach by the end of last November to 10.7 billion dirhams, compared to 10.3 billion dirhams at the end of last October, and compared to four billion dirhams at the end of 2019, an increase of 6.7 billion dirhams during the first 11 months of 2020 , Equivalent to a growth of 167.5%.

Yesterday, data issued by the Central Bank indicated that gold is one of the various assets that it owns, including liquid funds, certificates of deposit, and securities held to maturity.


In April of 2015, the Central Bank decided to return to forming gold reserves for the first time in eight years, after the Central Bank sold all its ownership of the yellow metal in 2007, and then returned again to form a balance of gold in 2015, in addition to its basket of reserves. Of foreign currencies, led by the dollar, and other currencies.

Possession of gold

The UAE's possession of gold reached 46.4 tons at the end of October of last year, according to the latest data released by the recently issued World Gold Council report.

The UAE reserves of the yellow metal represented 2.8% of the total reserves of the state.

Number of Employees

In addition, the Central Bank's data showed that the number of employees in banks has stabilized since June to November 2020 at 33,891 employees, 79% of whom are concentrated in national banks, while their foreign counterparts acquire the remaining share.

According to the figures, national banks continued to reduce the number of branches of their subsidiaries to reach 541 by the end of November, compared with 547 branches at the end of last October.

16.3 billion dirhams new investment in deposits

Bank dealers operating in the country returned to the increase in the volume of their investments in time deposits for more than a year, which rose by 16.3 billion dirhams, registering a growth of 34.7% during the first 10 months of last year, compared to the end of 2019, according to statistics issued by the Central Bank .

Monitoring the movement of the demand for this type of deposit shows that it has maintained good growth rates since the beginning of 2020, compared to other categories of deposits.

The number of bank employees stabilized from June to November 2020 at 33.8 thousand.

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