6.4 billion dirhams bank financing for individuals during January

The banks operating in the country provided individuals with the highest monthly value in six years, as they granted them 6.4 billion dirhams during last January, so that the total individual’s funds at the end of January 2025 would reach 495.5 billion dirhams, compared to 488.8 billion dirhams at the end of the previous December, with a monthly growth of 1.3%.

Individual funds include personal loans, car financing, credit cards, purchase financing or private housing.

Data issued by the Central Bank yesterday showed that the total bank investments in shares, bonds, etc., at the end of January, increased to 743 billion dirhams, compared to 735.6 billion dirhams at the end of December 2024, with a monthly increase of 7.4 billion dirhams, and a growth of 1%.

The value of the financial transfers that took place through the central bank system during last January amounted to 678.7 billion dirhams, of which 677.6 transfers related to banks, and 1.1 billion dirhams for clients, while the number of checks that have been seized through the “central” system of clearing checks using their optical images, during January also, 118 billion dirhams for 1.9 million checks.

During January 19.9 billion dirhams, withdrawals from the central bank amounted to 15.2 billion dirhams.

According to the data, government deposits recorded a monthly increase of 9.1 billion dirhams during January 2025 alone, bringing its cumulative balance by the end of the month to 470.5 billion dirhams, compared to 461.4 billion dirhams at the end of December, with a monthly growth of about 2%.

The monetary base at the end of the monitoring month recorded 792 billion dirhams, compared to 780.6 billion dirhams at the end of December 2024, a monthly increase of 11.4 billion dirhams, equivalent to a growth of 1.5%.

The “Central” revealed that the value of the transactions that took place through the “direct deduction system” last year increased by 23.7%, compared to 2023, to reach 106.9 billion dirhams, while the number of these transactions reached 17.8 million transactions, according to the latest report issued by the “Central”, which also showed that the number of direct debit transactions witnessed growth during the past year by 34% on an annual basis.

It is noteworthy that the Central Bank announced the UAE system for direct deduction in 2012, to provide a platform for bank employees to pay the payments automatically, and to fulfill their obligations to their banks, or to any other bank or financial institution, in addition to service providers and foreign authorities.

This method is, according to the “Central”, is comfortable to pay the payments, and it is suitable and perfect for regular payments with fixed or variable amounts, such as services bills, insurance payments, payment of mortgage installments, loans, and subscriptions, and the efficiency and governance of this system is guaranteed by compliance with local and international standards and the Central Bank rules document.

According to the “Central” report, the electronic payment portal system conducted 2.1 million transactions worth 7.8 billion dirhams, an increase in size and value by 13% compared to 2023.

. 470.5 billion dirhams government deposits by the end of last January.

. 106.9 billion dirhams of direct deduction system transactions in 2024.