UAE handles cheques worth Dh100+ billion every month

By Divi S.

ABU DHABI 19 December 2018: A total of 22.5 million cheques worth Dh1.2 trillion were handled by the UAE Clearing Cheque System during the first eleven months of 2018, according to statistics released by the Central Bank of United Arab Emirates (CBUAE).

The cheques handled during the period from January through November account for 80 per cent of the total value of cheques handled throughout 2017, which stands at Dh1.5 trillion.

On a monthly level, 2.1 million cheques worth Dh97.8 billion were handled during November against Dh118.2 billion during the same month last year, said Wam.

March was the best performing month, during which a total of 2.4 million cheques worth Dh118.5 billion were handled followed by October, Dh115 billion; January Dh112.3 billion; April Dh112 billion, while August saw the lowest activity with a total cheque value of Dh91.2 billion.

Cash withdrawals from the CBUAE during the first 11 months of 2018 surged to Dh217.2 billion, while deposits stood at Dh215 billion during the same period.

Dubai Gazette