UAEFTS processes AED 19.89 trillion in transactions in 2024

Thursday, 13 March 2025 15:49

By ARN News Staff

The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).

The figures are a year-on-year increase of 15.9 per cent, compared to transactions totalling AED 17.159 trillion carried out during the same period in 2023.

According to the Monthly Banking Operations Statistics (2019- 2024), issued by the CBUAE on Thursday, bank transfers increased by approximately 13.3 per cent to AED 12.491 trillion in 2024, compared to AED 11.018 trillion in 2023. Meanwhile, customer transfers rose by about 20 per cent, surpassing AED 7.4 trillion in 2024, compared to approximately AED 6.14 trillion in 2023.

On a monthly basis, the value of transfers increased in December 2024 to approximately AED 1.878 trillion, compared to around AED 1.707 trillion in December 2023.

Regarding circulated checks, banking transaction statistics showed a 5.66 per cent increase in the value of checks processed using the Image Cheque Clearing System (ICCS), surpassing AED1.334 trillion in 2024, compared to AED1.263 trillion in 2023.

The total circulated checks reached 22.59 million in 2024, compared to 22.12 million in 2023.

More from Business News

DEWA contributes AED 20m to Fathers’ Endowment campaign

Dubai Electricity and Water Authority (DEWA) announced a contribution of AED 20 million to the Fathers' Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.
DP World reports record $20 bln revenue in 2024

DP World has announced revenue grew by 9.7 per cent to $20 billion (AED 73.5 billion), and adjusted EBITDA rose by 6.7 per cent to $5.5 billion (AED 20.2 billion), with an adjusted EBITDA margin of 27.2 per cent for the year ending December 31, 2024.
UAE cinema industry records AED 800m in revenue in 2024

The UAE's cinema industry generated AED 800 million in revenue last year, fueled by an increase in audience engagement, the Emirates News Agency said.
Abu Dhabi reports major growth in consumer protection indicators

Abu Dhabi saw a significant rise in the resolution of consumer complaints against commercial establishments last year, with 90 per cent of cases being settled amicably, compared to 83.4 per cent in 2023.