Published On:January 2 2019
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UAE banks invest $24bln in Saudi Arabia, Egypt

The investment of UAE’s banks in Saudi Arabia and Egypt reached AED87.2 billion at the end of Q3 2018, representing 12.5 per cent of the total assets invested abroad, which amounted to about AED693 billion in September of the same year.

Figures from the UAE Central Bank show that the value of investments by UAE banks, their subsidiaries and affiliates remain at their highest levels in the United Kingdom with a value of AED53 billion.

The UAE's banking system is the largest in terms of assets in the Middle East and North Africa. By the end of September 2018, its total assets stood at AED2.84 trillion. The total value of the investments of UAE’s banks in Egypt reached AED47.2 billion at the end of September 2018, while the value of its investments in Saudi Arabia, during the same period, was AED40 billion; AED36 billion in the Cayman Islands; AED34 billion in the United States, AED25 billion in India, AED20 billion in Oman, and about the same value in Bahrain, while the rest was distributed between the other countries.

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