Banking Sector Transfers Surge To AED 3.4 Trillion In January And February 2025, Reports CBUAE

The Central Bank of the UAE (CBUAE) recently released data indicating a 15.5% increase in the value of transfers within the UAE banking sector via the UAE Funds Transfer System (UAEFTS). During January and February, these transfers amounted to AED3.4 trillion, up from AED2.962 trillion in the same period last year.

Transfers executed by banks alone reached AED2.093 trillion in the first two months of this year. This includes AED1.1 trillion in January and AED983.99 billion in February. Meanwhile, customer and institutional transfers totalled AED1.327 trillion, with AED677.65 billion in January and AED649.48 billion in February.

The Image Cheque Clearing System (ICCS) processed cheques worth over AED234.64 billion for 3.875 million cheques during January and February this year. This is an increase from AED216.218 billion for 3.8 million cheques during the same period last year. In February alone, cheques valued at AED116.165 billion were circulated for 1.828 million cheques.

Cash Withdrawals and Deposits

Data from the Central Bank showed cash withdrawals totalling AED41.131 billion during the first two months of this year. Cash deposits at the Central Bank amounted to AED31.115 billion over the same period.

Bank Investments Growth

Banking indicators revealed a monthly increase of 2.1% in bank investments, with a 3.1% rise since the start of the year. By the end of February, total bank investments had grown to AED758.5 billion, compared to approximately AED742.9 billion at January's end and AED735.6 billion at last year's close.

The statistics highlight significant growth across various banking operations within the UAE, reflecting robust financial activity early this year.

With inputs from WAM