Bank deposits declined for the first time in five months in April as signs suggest the euro-zone debt crisis may be taking a toll on the region's financial system.
Deposits dipped by 0.6 per cent from March to reach Dh1.14 trillion (US$310.36 billion), data released yesterday by the Central Bank shows.
M2 money supply, which gauges currency in circulation plus non-government deposits, dipped by 2.4 per cent to Dh880.4bn over the same period. M3, which tracks M2 plus government deposits, fell by 1.1 per cent to Dh1.06tn.
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