In May 2025, the UAE’s money supply and banking sector showed notable growth, according to the Central Bank of the UAE (CBUAE).

Money Supply

The total money supply, measured in various aggregates, increased across the board:

• M1 (currency in circulation and monetary deposits) rose by 0.4% to AED1,015.6 billion.

• M2 (M1 plus quasi-monetary deposits) increased by 1.6% to AED2,474.0 billion.

• M3 (M2 plus government deposits) grew by 1.7% to AED2,948.1 billion.

  The monetary base, which underpins the money supply, also increased by 2.2%.

Banking Sector

Banks in the UAE also saw expansion:

• Gross bank assets increased by 2.7% to AED4,878.3 billion.

• Gross credit (loans) grew by 1.5%, driven by increases in both domestic and foreign lending. Domestically, lending to the government and private sectors grew, while credit to government-related entities and non-banking financial institutions saw a decline.

• Bank deposits rose by 1.8% to AED3,018.5 billion, with increases in deposits from both residents and non-residents. Within resident deposits, the government and private sectors contributed to the growth, whereas deposits from non-banking financial institutions decreased.