ABU DHABI 14 August 2017: The cash flow circulating in the UAE market by UAE nationals and residents, including individuals and corporations alike, gained Dh5.1 billion during H1 2017, bringing to Dh67.4 billion the money supply circulating outside the banking sector by the end of June, according to UAE Central Bank statistics.
On a YOY basis, the liquidity available outside banks increased 4.7 per cent from June 2016 through June 2017, translating a growing demand for cash to meet basic needs.
An analysis conducted by WAM showed that the monthly level of money supply outside banks significantly increased by the end of 2016 until March 2017 from Dh62.3 billion to Dh65.4 billion.
From April through May 2017, the cash flow was up by Dh2 billion, from Dh65.2 billion to Dh67.2 billion, and kept its rising streak to hit Dh67.4 billion by the end of June.
According to UAE Central Bank statistics, the outside-bank liquidity accounted for 13.3 per cent of the money supply by end of June.
By Rajive Singh