The assets of Islamic banks rose 6.5% to 631.7 billion dirhams at the end of last February

2023-05-24 20:24:57

The assets of Islamic banks operating in the country increased to 631.7 billion dirhams at the end of last February, with an annual growth rate of 6.5%, or the equivalent of 38.6 billion dirhams, compared to regarding 593.1 billion dirhams in February 2022, according to the latest statistics of the Central Bank.

The statistics showed that the assets of Islamic banks operating in the country increased on a monthly basis by regarding 1.74%, or the equivalent of 10.8 billion dirhams, compared to regarding 620.9 billion dirhams in January 2023.

Central statistics showed an increase in bank credit for Islamic banks to 396.6 billion dirhams at the end of last February, an increase on an annual basis of 3.01%, compared to regarding 385 billion dirhams in February 2022, an increase equivalent to 11.6 billion dirhams in 12 months.

Deposits in Islamic banks increased to 439.9 billion dirhams at the end of last February, an increase on an annual basis of regarding 3.92%, compared to 423.3 billion dirhams in February 2022, an increase equivalent to 16.6 billion dirhams in 12 months.

According to the statistics, the total investments of Islamic banks reached 109.5 billion dirhams at the end of last February, an increase on an annual basis by 20.7%, or the equivalent of 18.8 billion dirhams, compared to investments of regarding 90.7 billion in February 2022, while it increased on a monthly basis by 3.3% compared to 106 billion dirhams last January.

The investments of Islamic banks were distributed by 76.9 billion dirhams in bonds held to maturity, 18.4 billion dirhams in securities that represent debts to others “debt bonds”, 2.8 billion dirhams in stocks, and 11.4 billion dirhams in other investments.

In terms of conventional banks operating in the country, their total assets reached 3.116 trillion dirhams at the end of last February, an increase of 15.9% on an annual basis, compared to 2.689 trillion dirhams at the end of February 2022.

According to statistics, conventional banks acquired regarding 83.1% of the total assets of the banking system in the country at the end of last January, amounting to 3.748 trillion dirhams, compared to the share of Islamic banks amounting to 16.9%.

Total bank credit to conventional banks reached 1.5 trillion dirhams at the end of last February, an increase on an annual basis of 5.3%, compared to 1.425 trillion dirhams in February 2022, while bank deposits in conventional banks increased to 1.802 trillion dirhams at the end of last February, an annual growth of 15.2% compared to About 1.565 trillion dirhams in February 2022.

The total investments of conventional banks rose on an annual basis by 13.8% to 431.9 billion dirhams at the end of last February, distributed by 230.5 billion dirhams in securities representing debts to others “debt securities”, and 153.4 billion dirhams in bonds held to maturity and 9. 2 billion dirhams in stocks, and 38.8 billion dirhams in other investments

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