According to data from the Central Bank of the United Arab Emirates (CBUAE), the number of workers in UAE banks has surpassed 39,000 for the first time since 2015. According to today’s release of the Monthly Statistical Bulletin-Banking and Monetary Statistics-December 2024, there were 39,046 bank workers overall as of the end of 2024.
In 2024, the industry added 878 new workers, representing a 2.3% growth from the 38,168 workers at the end of 2023. As of December 2024, 32,590 workers are employed by national banks, while 6,456 are employed by foreign banks doing business in the United Arab Emirates. In the meantime, the CBUAE’s gold bullion increased by 26.63 per cent in 2024, from Dhs18.147 billion in 2023 to Dhs22.981 billion by the end of the year.
By the end of 2024, the bank’s demand deposits had grown to over Dhs1.109 trillion, of which Dhs822.42 billion were held in local currency. While time deposits were Dhs945.75 billion, with almost Dhs553.4 billion in local currency, savings deposits totaled Dhs317.486 billion, of which nearly Dhs265 billion was in local currency.
The UAE banking sector’s net international reserves increased from Dhs1.145 trillion at the end of 2023 to Dhs1.446 trillion by the end of 2024, according to the study.
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