The UAE’s banking sector recorded Dh3.4 trillion in domestic transfers via the UAE Funds Transfer System (UAEFTS) during January and February 2025, marking a 15.5% increase compared to Dh2.96 trillion in the same period last year, according to data released by the Central Bank of the UAE (CBUAE).
Bank-initiated transfers totalled Dh2.09 trillion, with Dh1.1 trillion in January and Dh983.99 billion in February. Customer and institutional transfers amounted to Dh1.32 trillion, comprising Dh677.65 billion in January and Dh649.48 billion in February.
The Image Cheque Clearing System (ICCS) processed 3.875 million cheques valued at Dh234.64 billion during the first two months of 2025, up from 3.8 million cheques worth Dh216.218 billion in 2024. In February alone, 1.828 million cheques were processed, totalling Dh116.165 billion.
Cash withdrawals from the Central Bank reached Dh41.13 billion, while cash deposits totalled Dh31.11 billion during the same period.
Bank investments increased by 2.1% month-on-month and 3.1% since the beginning of the year, reaching Dh758.5 billion by the end of February 2025, compared to Dh742.9 billion at the end of January and Dh735.6 billion at the close of 2024.
