Fund transfers among UAE banks posted a rise of 35.6 percent to reach a whopping AED10.99 trillion in the first eight months of the year, the latest data showed.
The bank deposits during the period reached AED115.76 billion, according to statistics released by the Central Bank of the United Arab Emirates.
The data also showed that a total of 14.63 million cheques for a total value of AED826 billion were circulated during the period.
The inter-bank fund transfers are done through the UAE Fund Transfer System.
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