The share of Islamic banks in bank credit was 22% at the end of August

Abu Dhabi, December 6 / WAM / Bank credit granted by Islamic banks during the month of last August increased by 1% on a monthly basis to 469 billion dirhams, while the growth rate from the beginning of this year until the end of last August reached 9.3%, while the growth rate of credit with banks reached 9.3%. Traditional: 0.4% on a monthly basis and 5.2% since the beginning of the year until the end of August.
According to banking indicators by type of banks, “conventional and Islamic,” issued today by the Central Bank, the share of Islamic banks in total bank credit as of the end of August amounted to about 22.19%.
The share of Islamic banks in the total banking assets amounted to about 17.42%, amounting to 762.7 billion dirhams, compared to 3.615 trillion dirhams for traditional banks, and the total assets of traditional and Islamic banks combined amounted to about 4.378 trillion dirhams.
Islamic bank deposits grew by 1% on a monthly basis during August to 552.9 billion dirhams, while deposits of conventional banks remained at 2.187 trillion dirhams at the end of the aforementioned month.
The value of Islamic banks’ investments at the end of August amounted to 151.4 billion dirhams, with a growth of 0.5% on a monthly basis, and 14.1% since the beginning of the year, distributed by 18.2 billion dirhams in debt securities, 2.4 billion dirhams in stocks, and 119.6 billion dirhams in bonds. Reserved until maturity and 11.2 billion dirhams in other investments.
As for traditional bank investments, they amounted to 551.8 billion dirhams, an increase of 2.1% on a monthly basis and 9.8% since the beginning of this year, distributed by 282.4 billion dirhams in debt securities, 14.5 billion in stocks, and 215.3 billion dirhams in reserved bonds. Until the maturity date, and 39.6 billion dirhams in other investments.
According to indicators according to the emirate, the assets of Abu Dhabi banks amounted to 2.108 trillion dirhams, the assets of Dubai banks amounted to 1.926 trillion dirhams, and the assets of other Emirates banks amounted to 343.2 billion dirhams.
The credit value of Abu Dhabi banks amounted to 992.3 billion dirhams, that of Dubai banks 940.5 billion dirhams, and 180.1 billion dirhams of credit of banks in the other emirates.
The deposits of Abu Dhabi banks reached 1.251 trillion dirhams at the end of last August, and the deposits of Dubai banks reached 1.263 trillion dirhams, while the deposits of other Emirati banks amounted to 226.4 billion dirhams.

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