Financial and Banking News


UAE Logs $5.5bn Capital Outflow in First Half

The outflow of capital from the UAE during the first six months of 1984 totaled Dh20.1bn ($5.5bn), nearly doubling the DhlO.3bn outflow during the whole of 1983, according to figures published last week by the Central Bank. The Central Bank commented that this outflow was caused by the strength of the US$ and the relatively high interest rates available on foreign currency deposits abroad.