UAE: Demand for Shariah-compliant financing remained strong, with growth of 4.9% in 2022, taking total financing to $146.15bln
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UAE: Demand for Shariah-compliant financing remained strong, with growth of 4.9% in 2022, taking total financing to $146.15bln
17 Jul 2023 | Monday Source: Zawya
The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 affirmed the UAE Islamic banking sector assets continued to grow in 2022 to account for 23.0% of total UAE banking sector assets.
In line with the overall banking sector, profitability continued to recover, with adequate capital buffers on aggregate, whilst lending capacity remained ample, supported by improved liquidity buffers. Additionally, asset quality improved, with a decline in non-performing financing and stable provision coverage.
