Dubai – Mubasher: Dubai banks have pumped AED 38 billion into the economy in 12 months, according to the latest data by the Central Bank of the UAE (CBUAE).
This amount is accounted for around 49.4% of the UAE's total bank credit valued at AED 1.804 trillion in September.
Dubai banks' balance of loans reached AED 891 billion in September, up by about 4.5% year-on-year (YoY) or AED 38 billion.
It is noteworthy to mention that in the first eight months of 2020, Dubai banks pumped around AED 31 billion into the economy.
