The banking system in the UAE has experienced growth in term deposits, savings deposits, and demand deposits over the past few years. Term deposits increased by 2.05% on a monthly basis, reaching 796.92 billion dirhams at the end of January 2024. This was an increase from 780.94 billion dirhams in December 2023 and a 30.28% increase from January 2023. The dirham had the largest share of term deposits at 59.58%, while foreign currencies made up 40.41%.
Savings deposits decreased by 0.86% in January 2024 to 270.47 billion dirhams, but saw an annual increase of 10.16%. The dirham had the largest share of savings deposits at 82.08%, with foreign currencies at
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