A new achievement in the UAE banking sector

-


 The UAE topped the Arab, regional and global levels in 4 main banking indicators 2021, in a global testimony from international institutions on the strength and durability of the banking system in the country, according to the Center for Competitiveness and Statistics.

The four indicators are "the depth of credit information", "the absence of a credit gap", "money and banking" and the "existence of regulatory restrictions on financial transactions" indicator, where the indicators reflect the strength of the financial and banking structure in the country to establish controls and legislation that are flexible and reliable at the same time to ensure The safety and smoothness of banking operations at the level of business, companies and individuals.

The number of commercial banks operating in the country increased from 20 in 1972, when banking business officially began in the UAE in the pre-union period and started its work before the establishment of the previous monetary council, that is, before the establishment of the Central Bank, to 49 banks in 1980, and the number of banks in the country reached 58 by the end of 2020 from Including 21 national banks, bringing the number of banks in the country up by 190 percent in 49 years.

The total value of deposits in the banking sector increased from 19.513 billion dirhams in 1978, to 1.884 trillion 2020, with a growth of 9557.6%, which means a doubling of 96.57 times in 43 years, and the number of insurance companies jumped 554.8 percent to 406 companies by the end of 2020.



Comments

Post a Comment

Popular posts from this blog

Red Arrows

-
Image
 Red Arrows is the name of the Royal Air Force's aerobatic team, which is made up of an elite group of highly qualified British pilots. The team was officially established on March 1, 1965, and the team uses advanced BAE Hawk trainer aircraft. The team consists of 9 pilots permanently, three of whom are replaced every year. Each pilot spends three years in the team. The replacement process takes place after each pilot has spent the entire three years in the team. Pilots are the core of the team, they are the ones who do the show flying. They are supported by a support team of 85 engineers and technicians. Since its inception the team has presented more than 4,000 performances in 53 countries, last of it at UAE Expo2020 Dubai.
Read more

Is it really possible to extend human life to 200 and 300 years?

-
Image
Human has always been fond of immortality and reaching it, and searched a lot for ways and tools to become immortal, such as incantation, magic, elixir of life, and going to remote lakes or mountain peaks, thinking that the answer is there, but all attempts ended in failure, and this obsession always existed  through arts such as the vampire, immortals, werewolves, etc.  believing in the existence of immortality deeply in human thought. Today, this obsession has returned to the ground again, not from some amateur or public, but from the elite of the rich, but they are not only rich, they are geniuses and pioneers in their business, number of them, led by the Russian billionaire (Yuri Milner) and the richest man in the world (Jeff Bezos), founder of the Amazon and Blue Origin for space research, paid huge funding to a new and mysterious company called Altos Labs. This company was established to start the largest series of researches in an amazing new technology, called (Biological Repro
Read more

Expo2020 Dubai

-
Image
World Expo is a large international exhibition designed to showcase achievements of nations. These exhibitions vary in character and are held in different parts of the world at a specific site for a period of time, ranging usually from three to six months. UAE, Dubai, won the organization of the exhibition in 2013, after Dubai outperformed Sao Paulo in Brazil, Yekaterinburg, Russia, and Izmir, Turkey, as it obtained the support of 116 of the 164 voting members of the Bureau in a final run-off against Yekaterinburg. UAE  has chosen the slogan "Connecting Minds .. Creating the Future" as the title of the campaign to host the "International Expo 2020" in Dubai. The exhibition will be held from October 1, 2021 to March 31, 2022 192 countries participate, the largest pavilion is for the UAE and the second largest is for Saudi Arabia
Read more