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Islamic banks’ assets up to $177bln by end of March 2023: CBUAE

Gross assets of the Sharia-compliant banks operating in the UAE grew to AED650 billion ($177 billion) by the end of Q1-2023, an annual increase of 7.31 percent, equivalent to nearly AED44.3 billion, against about AED605.7 billion in March 2022, according to figures by the Central Bank of the UAE (CBUAE).

The apex bank’s statistics reflect an increase in Islamic banks’ credit to AED400.2 billion at the end of March 2023, an annual growth of 2.51 percent compared to nearly AED390.4 billion in March 2022, and a month-over-month increase of 0.91%, from AED396.6 billion in February.

Link: https://www.zawya.com/en/islamic-economy/islamic-finance/islamic-banks-assets-up-to-177bln-by-end-of-march-2023-cbuae-k3koyvhi

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