(MENAFN) Compared to Dh752.3 billion in August, term and savings deposits in both local and foreign currency in the UAE banks amounted to a total of Dh768.3 billion in September, which increased by around Dh16 billion, amounting to, according to Central Bank figures.
The attractive interest rates provided by UAE banks have played a major role enhancing saving responses among investors since the beginning of the year, a report by the official Emirate news agency Wam quoted banking sector analysts.
Following the US Federal Reserve's second interest hike in June, the UAE Central Bank raised deposit interest rate to 1.5 per cent.
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