US Dollar credit accounts for 81.1 percent of Emirati banks’ eligible loan amounts due in

ABU DHABI, Borrowing in US dollar accounted for 81.1 percent of Emirati banks’ eligible loan amounts due in in 2019, according to figures released by the Central Bank of the United Arab Emirates.

Euro-denominanted loans come second, standing at 10.9 percent. Pound-denominated debts comprised 2 percent, Yen 1.4 percent, Chinese Yuan 0.3 percent and Swiss Franc 0.1 percent.

At the Arab monetary level, Saudi Riyal comes first, accounting for 1.6 percent of loans, followed by Bahraini Dinar and Kuwaiti Dinar similarly at 0.2 percent.

The banking regulator also valued total foreign assets held by national banks at AED582 bn in Q2, a growth of 2.1 percent over the preceding quarter.

Source: Emirates News Agency