AED 7.34 Billion Gold Reserve Boost for Central Bank Over 20 Months

The statistics released by the central bank indicate a significant increase in the bank's gold reserves over the past four years. This rise was evident as the reserve jumped from 11.913 billion dirhams at the end of 2021 to 22.981 billion dirhams by the close of 2024. The data also highlighted that by the end of 2022, the bank's gold reserves had climbed to 16.045 billion dirhams, continuing to ascend to 18.147 billion dirhams by the end of 2023. Over the 20-month period from the beginning of the previous year to the end of August 2025, the reserves surged by approximately 32%, an increase of about 7.34 billion dirhams from 22.981 billion dirhams to 30.329 billion dirhams. The increase in the central bank's gold reserves has been witnessed consistently over the years. In 2022, it experienced a 34.6% growth, equating to an extra 4.132 billion dirhams. In the subsequent year, 2023, the gold reserves recorded a 13.1% rise, adding around 2.1 billion dirhams. Yet again in 2024, the reserves saw a 26.6% increment, amounting to a further 4.83 billion dirhams. Consequently, from the end of 2021 to August of the following year, the total increase was a staggering 154.5%, equating to a growth of 18.41 billion dirhams. Further insights revealed that the UAE central bank's gold reserves witnessed a leap of 31.97% during the first eight months of the current year, signifying a 7.348 billion dirhams increase, thereby reaching 30.329 billion dirhams by August end. This was a notable rise compared to the 22.981 billion dirhams at the close of December 2024. Additionally, the monthly basis comparison saw a 4.59% increase or a 1.332 billion dirham hike compared to 28.99 billion dirhams at the end of July 2025. Gold is part of the diverse assets held by the central bank. The assets portfolio includes liquid funds, certificates of deposit, and securities held to maturity. In terms of foreign bank credits, reports from the central bank affirmed that the number of commercial banks licensed in the country stood at 61 by the end of August. These included 23 national banks and 39 foreign banks. There were 510 bank branches across the country as of the end of August, with 438 being national bank branches and 72 foreign. Furthermore, the national banks operated 45 electronic banking service units, with 21 currency exchange offices, while the foreign banks had 24 electronic banking service units. The central bank reports showcased that the total credit offered by national banks experienced a 14.9% year-on-year growth in August, reaching 2.234 trillion dirhams compared to 1.945 trillion dirhams in August 2024. In contrast, the credit provided by foreign banks saw an 8.9% year-on-year increase during the same comparison period, growing from 167.8 billion dirhams to 182.7 billion dirhams by the end of August, indicative of the 14.9 billion dirhams in new loans issued by foreign banks over the year. Furthermore, during the first eight months of the current year, total credit by national banks expanded 11.7%, reaching 2.234 trillion dirhams versus 2 trillion dirhams by December 2024. Conversely, foreign bank credits saw a 1.4% increase during the same eight months, growing from 180.2 billion dirhams to 182.7 billion dirhams by the end of August. The data also highlighted a 14.9% year-on-year growth in total deposits in national banks in August, reaching 2.784 trillion dirhams, compared to 2.423 trillion dirhams in August 2024. Meanwhile, deposits in foreign banks increased by 8.4% from 317.2 billion dirhams to 344 billion dirhams over the comparison period. Remarkably, 26.8 billion dirhams of new deposits were attracted by foreign banks within a year. For the initial eight months of the current year, the total deposits within national banks grew by 10.6% to reach 2.784 trillion dirhams, compared to 2.517 trillion dirhams as of December 2024. On the other hand, foreign banks saw a 4.1% increase in total deposits from 330.3 billion dirhams at the end of December last year to 344 billion dirhams by the end of August.