AED204.86 bn worth of 4.232 mln cheques handled by Clearing System year to date

ABU DHABI, A total of 4.232 million cheques worth AED204.86 billion have been handled by the Cheque Clearing System year to date, Central Bank of the UAE said Tuesday.

On a month-over-month basis, the value of cheques handled over the first two months of the year grew 1.7 percent from AED201.4 bn in the comparable period last year, signalling a steady economic growth across various business sectors.

February saw the number of cheques growing to 2.165 mln worth AED103.509 bn, a 7.8 percent increase over the same month last year, with the total cheques managed during the two months of 2020 accounting for 16.6 percent of the total cheques handled in 2019, whose value stood at AED1.22 trillion.

Money withdrawals from the CBUAE in the reference period of 2020 amounted to circa AED35.18 bn, while deposits reached AED32.95 bn, AED16.55 bn of which in January and AED16.4 bn in February.

Source: Emirates News Agency