UAE Islamic banking assets reach Dh520b

Saif

Hadef Al Shamsi, Assistant Governor for Monetary Policy and Financial Stability at the UAE Central Bank, has said that total Islamic banking assets in the UAE have increased to approximately Dh520 billion in the past few years.

Al Shamsi added that Islamic banking’ assets account for around 20 per cent of Dh2.6 trillion of the total assets of the state’s banks, noting that there are seven Islamic banking and financial institutions operating in the country. (WAM)