ABU DHABI, (Pakistan Point News - 22nd Oct, 2020) The total foreign Currency deposits held by the UAE national banks amounted to circa AED409 bn by August, a growth of 7.3 percent, according to the statistics of the Central Bank of the United Arab Emirates.
These account for 30 percent of the total deposits held by the Emirati banks, valued at AED1.346 trillion by the end of August. They grew to AED366.8 bn in Q2 from AED381 bn in December 2019, before rising to around AED395 bn in July.
Fixed deposits are one of the safest and most preferred investment options available to those averse to investing in risk instruments such as equity and mutual funds. FDs allow investors to manage r financial risks, therefore representing an effective tool to enhance foreign direct investments.