The Central Bank of the United Arab Emirates (CBUAE) announced Monday’s monetary bill (M-Bill) auction. Four M-Bills Treasury bond issues are up for auction.
The first issue will be up to Dhs1,500 million for 28 days, the second for 84 days, the third for 112 days, and the fourth for 280 days, all based on CBUAE data. The fourth issue will be up to Dhs4,000 million.
The first issue is due on October 16, 2024; the second issue is due on December 11, 2024; the third issue is due on January 8, 2025; and the fourth issue is due on June 25, 2025. The issue date is September 18, 2024.
According to data released by the Central Bank of the UAE (CBUAE), the total gross banks’ assets, including bankers’ acceptances, increased by 0.5% from Dhs4,287.0 billion at the end of May 2024 to Dhs4,310.2 billion at the end of June 2024.
In its Monetary and Banking Developments for June 2024 report, the Central Bank stated that gross credit increased by 1.1% from Dhs2,077.7 billion at the end of May 2024 to Dhs2,100.9 billion at the end of June 2024. Gross credit increased as a result of 2.9% growth in foreign credit and 0.8% increase in domestic credit.
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