According to the latest statistics from the Central Bank of the UAE (CBUAE), the total value of bank transactions conducted within the UAE through the UAE Funds Transfer System (UAEFTS) surged to AED 19.898 trillion (approximately $5.4 trillion USD) in 2024.
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03-14, 2025This figure represents a 15.9% increase compared to the AED 17.159 trillion (approximately $4.67 trillion USD) recorded in the same period of 2023, indicating a significant rise in banking transaction activity within the UAE.
The "Monthly Banking Operations Statistics (2019-2024)" released by the CBUAE on Thursday revealed that total bank transfers in 2024 amounted to approximately AED 12.491 trillion (approximately $3.4 trillion USD), an increase of about 13.3% compared to AED 11.018 trillion in 2023. Concurrently, customer transfers also saw a notable increase of approximately 20%, exceeding AED 7.4 trillion in 2024, compared to nearly AED 6.14 trillion in 2023.
Looking at the monthly data, transfers in December 2024 also showed an upward trend, reaching approximately AED 1.878 trillion, higher than the approximately AED 1.707 trillion in December 2023.
Regarding cheque circulation, banking transaction statistics indicate that the value of cheques processed through the Image Cheque Clearing System (ICCS) increased by 5.66%, exceeding AED 1.334 trillion in 2024, compared to AED 1.263 trillion in 2023. The total number of cheques circulated in 2024 reached 22.59 million, up from 22.12 million in 2023.
