392.4 billion dirhams, the foreign assets of the Central Bank by the end of the first quarter

The total foreign assets of the Central Bank rose to 392.4 billion dirhams, an increase of 1.1% at the end of the first quarter of this year compared to the same period last year, according to the report on monetary, banking and money market developments for the first quarter of 2021 issued today by the Central Bank of the United Arab Emirates.

The central bank attributed the increase in total banking assets as a result of an increase in foreign securities of 85.9 billion dirhams on a quarterly basis, in addition to the increase in other foreign assets by 25.7% at a value of 9.2 billion dirhams, as the foreign assets of the Central Bank rose on an annual basis by 0.4%.

The money supply "M1" increased by 7.1% at the end of the first quarter of this year, while it rose on an annual basis by 18.4% to reach 642.3 billion dirhams. The money supply "N2" increased by 0.6% at the end of the first quarter, while it rose on an annual basis by 2.2% to reach 1.487.5 billion dirhams, while the money supply "M3" increased on an annual basis by 3.1% to 1,766.4 billion dirhams.

The report showed that the quarterly average of the general stock price index on the Abu Dhabi Stock Exchange increased by 17.0% during the first quarter of this year compared to the same period last year, while the quarterly average of the market value of the companies listed on the Abu Dhabi market increased by 101 billion dirhams to reach 826.7 billion dirhams. By the end of the first quarter, the value of quarterly trading increased by 74.7% to reach 50.3 billion dirhams.

The report showed that the quarterly average of the general stock price index in the Dubai Financial Market increased by 9.2% during the first quarter of this year compared to the same period last year, while the quarterly average of the market value of the companies listed on the Dubai market increased by 25.2 billion dirhams to reach 353.9 billion dirhams by the end of The first quarter, while the value of quarterly trading increased by 4.8% to reach 15.4 billion dirhams during the first quarter of 2021.

The report indicated that the number of national banks remained the same at 21 by the end of the first quarter of this year, while the number of electronic banking service units affiliated to these banks increased to 35 units.

The report explained that technological and structural developments in the financial sector have increased access to mobile banking applications, Internet banking services, and ease of use of automatic teller machines (ATMs) over the past several years.

The number of other financial institutions that are subject to the licensing and control of the Central Bank reached 10 business banks, 83 representative offices, 21 financing companies, 94 money changers and 11 brokerage offices in currency exchange and mediating in money market operations, while the number of automatic teller machines operating in the country reached 4,343 by the end of the first quarter of the year. This year.

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