Banking expert: Raising interest on deposits in the UAE is in the interest of depositors

 Banking expert, Ahmed Youssef, said: "The interest on deposits in the UAE is expected to witness an increase in turn, after the (central) increase in the interest rate, with the same percentage, as the ratio currently exceeded 1.5% to 1.75%, and this means an increase in the return for depositors, and in return the cost of funds increased. For banks, this is reflected in the increase in the financing rate.

And he indicated that "the reactions of the global markets were mixed, as some stock markets rose while the bond market fell, but in general there was a readiness for the lifting process, albeit at a lower rate than what was done."

Yousef pointed out that the final consumer usually bears the increase in financing prices, but the offers and discounts offered by banks to increase their operational activity will be a haven for individuals.

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