ABU DHABI: The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 7.9 trillion during the first five months of 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).

This represents a year-on-year increase of 17 percent, compared to transactions totalling AED 6.748 trillion carried out during the same period in 2023.

According to the Monthly Statistical Bulletin – Banking and Monetary Statistics for May 2024, issued by e Central Bank of the UAE (CBUAE) on Monday, the transactions executed during the first five months were distributed as follows: AED 4.968 trillion for interbank transfers and AED 2.93 trillion for transfers between bank customers.

The transactions were distributed over the months of 2023 as follows: AED 1.512 trillion in January, AED 1.449 trillion in February, AED 1.565 trillion in March, AED 1.592 trillion in April, and AED 1.78 trillion in May.

Source : Emirates News Agency