(MENAFN) The banking sector grew its reserves at the UAE Central Bank by USD2.34bn amid the first half of the year, bringing to USD34.16bn the whole needed reserves by the end of June.
Moreover, statutory reserves at the minimum liquidity banks will hold against client deposits without getting interests in return.
In addition, the needed minimum level of compulsory reserves now reaches 14 percent on current, savings and demand accounts.
Meanwhile, required reserves have been growing over the cited period of the year, growing by Dh1.9bn to Dh118.7bn in Feb and to Dh119.9bn by the end of March.
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