UAE Central Bank studies issuing licences for three Gulf banks
Governor of the Central Bank Sultan Nasser Al Suweidi confirmed today that the Central Bank is currently studying the possibility of issuing licenses for three Gulf banks. He also pointed out that the three banks are still being set up.
Suweidi said that the banking sector in UAE continued to grow substantially during the current year where as the total assets of the national and foreign banks crossed AED1.039 trillion ( USD 300 billion ). The deposits grew by 16 percent and the banks operating in the country are expected to realise impressive profits by the end of the year.
He added that 22 national banks and 22 foreign banks are operating in UAE with a total number of 690 branches. Suweidi forecast that the country's economy will continue to grow during the coming two years with a remarkable increase in the spending on infrastructure in UAE and other gulf countries. This will strengthen the process of growth in the future, he added. Source
Suweidi said that the banking sector in UAE continued to grow substantially during the current year where as the total assets of the national and foreign banks crossed AED1.039 trillion ( USD 300 billion ). The deposits grew by 16 percent and the banks operating in the country are expected to realise impressive profits by the end of the year.
He added that 22 national banks and 22 foreign banks are operating in UAE with a total number of 690 branches. Suweidi forecast that the country's economy will continue to grow during the coming two years with a remarkable increase in the spending on infrastructure in UAE and other gulf countries. This will strengthen the process of growth in the future, he added. Source
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