The Central Bank of the UAE (CBUAE) has released its Monthly Statistical Bulletin – Banking & Monetary Statistics for May 2024, revealing that the value of cheques cleared through the Image Cheque Clearing System (ICCS) reached AED544.4 billion in the first five months of 2024.
This total was distributed across 9.33 million cheques. The report, issued on Monday, provided a monthly breakdown of cleared cheques.
January saw AED109.4 billion cleared through 1.965 million cheques, February AED106.7 billion (1.837 million cheques), March AED112.6 billion (1.855 million cheques), April AED92.9 billion (1.66 million cheques), and May AED112.7 billion (2.01 million cheques).
The CBUAE statistics also showed cash deposits at the Central Bank totalled AED75.1 billion during the same period.
Cash withdrawals amounted to AED88.17 billion, comprising AED88.1 billion in banknote withdrawals and AED29.8 million in coin withdrawals.
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