Islamic Banks’ assets rise to Dh565b in first half of 2018

Abu Dhabi: The assets of Islamic Banks in the UAE rose to Dh565 billion in the first half of 2018, an increase of 6.7 per cent (Dh35.5 billion) compared to the same period last year. The statistics revealed by the UAE Central Bank showed that the assets of Islamic banks comprised 20.55 per cent of assets in the UAE’s banking system, which was valued at Dh2.74 trillion by the end of June, 2018. The growth reflects the development achieved by Islamic banks, particularly during a period in which the banking sector is witnessing a slowdown in all countries around the world.