UAE sees sharp boost in banking deposits
(MENAFN) The UAE's banking deposits from January to November last year recorded an 8.4 percent jump, reaching USD42.9 billion compared to the previous year.
The boost in the three-six month deposits was attributed to the increases seen in interest rates which grew term deposits demand.
According to data the Central Bank of UAE issued, the aggregate balance of term deposits hit 16.5 percent.
CBUAE figures further showed the twelve-month term of deposits at UAE banks to have increase by 39 percent.
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