• Sat. Apr 20th, 2024

UAE’s Financial Transfer System Surges 24% in January 2024, Online Communities Thrive with Diverse Discussions

BySamantha Jones

Apr 3, 2024
Transfers totaling 1.51 trillion dirhams between banks and individuals in the Emirates during January 2024

Central Bank statistics reveal that transfers carried out in the UAE banking sector through the UAE Financial Transfer System (UAEFTS) totaled 1.512 trillion dirhams in January 2024, an increase of 24.43% compared to January 2023. The UAEFTS, developed by the Central Bank in August 2001, is the main transfer system in the country that facilitates the immediate transfer of funds between entities.

In addition to transfers, Central Bank statistics also show that the value of clearing checks using their images in January 2024 was 109.47 billion dirhams, with 1.96 million cheques settled through the check clearing system during that month.

Meanwhile, online forums and communities are buzzing with discussions on a variety of topics, including how to strike a balance between work and personal life, advice on various subjects, and debates over different resources. From BMW enthusiasts sharing pictures of their cars to math education discussions, online communities are full of diverse conversations and interests.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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