UAE banks invest AED 40 bln in Saudi Arabia by Q3

01/01/2019 Argaam

 

The total value of the investments of UAE’s banks in Saudi Arabia reached AED 40 billion at the end of Q3 2018, out of a total of AED 693 billion of assets invested abroad, Emirates News Agency (WAM) reported on Monday.

 

Citing figures from the UAE Central Bank, WAM said among the top 10 countries that invest in UAE banks, three countries saw the highest quarterly increase (end of September).

 

These are, namely, Egypt (AED 12.6 billion), then the Cayman Islands (with AED 5.4 billion), and Saudi Arabia with AED 4.9 billion, Wam added

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