Fund transfers reach Dhs3.96 trillion
ABU DHABI: The gross value of interbank fund transfers through UAE Fund Transfer System (UAEFTS) reached to Dhs3.96 trillion in the first four months of 2022, an increase of 26.2 percent over the corresponding period in 2021, according to statistics released by the Central Bank of the United Arab Emirates (CBUAE) today.
Statistics noted that March was the busiest month with dirham-denominated transfers standing at Dhs1.1 trillion, while February was the least active month with transfers at AED861.8 billion.
Cheques worth Dhs389.54 billion have been handled by the Image based Cheque Clearing System (ICCS) in the first four months of the current year, a growth of 12 per cent compared with the same period in 2021, according to statistics released by the UAE Central Bank (UAECB).
The statistics showed that the number of cheques processed by the ICCS increased by 2.7 percent in the January-april period to 7.24 million from 7.049 million in the same period last year.
The figures noted that March registered the highest value of cheques processed through the clearing system at Dhs108.03 billion, followed by April at Dhs98.79 billion, January at Dhs92.02 billion, and February at Dhs90.69 billion.
Meanwhile, the Abu Dhabi Fund for Development (ADFD) continues its pioneering mission since its establishment in 1971, achieving many milestones in various fields, as the total funds, investments and deposits of the Fund reached Dhs185.2 billion by the end of June 2022.
The strong positive impact achieved under scores the fast-paced growth of ADFD’S development & investment activities. The fund has provided sot loans to developing countries worth Dhs58.12 billion and disbursed Dhs59.30 billion government grants. Its total allocation of funds for development projects stands at Dhs117.42 billion, which benefited 103 countries in different continents.
The Fund has invested Dhs11.7 billion in multiple sectors through six financial tools. It has invested in 14 strategic companies, while the geographical area of investment encompassed 23 countries.