The Central Bank’s possession of gold increased to 11.7 billion dirhams in October

The central bank’s balance of gold reached its highest level in 2021, in October. Archive

The Central Bank of the Emirates revealed that its gold balance rose to 11.7 billion dirhams at the end of last October, compared to a balance of 10.3 billion dirhams of gold in October of last year, an increase of 1.4 billion dirhams, with a growth rate of nearly 12% on an annual basis.

Data issued yesterday by the Central Bank showed that the bank's gold balance rose on a monthly basis by 4%, reaching its highest rate this year, reaching about 11.3 billion dirhams at the end of last September.

The Central Bank had decided in April of 2015 to return to the formation of gold reserves for the first time in eight years, after the Central Bank had sold its gold balance in 2007, and then returned again to form a gold balance in 2015, in addition to its basket of foreign exchange reserves. , especially the dollar, the euro, and others.

At the same time, the data showed a decrease in the number of national bank branches in the country to about 518 branches at the end of last October, distributed among 21 banks in the context of continuing digitization and smart transformation operations, compared to 521 branches in last September, while the number of foreign bank branches remained constant.

The number of bank employees in the country reached 32,753 at the end of last October, maintaining the same number recorded in September, including 25,957 employees in national banks, and 6796 employees in foreign banks.

• The number of national bank branches decreased and registered 518 branches by the end of October, distributed among 21 banks.

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