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The Central Bank of the United Arab Emirates (CBUAE) pumped AED7.3 billion into the country’s market in March 2019 according to a statement in WAM. The move was aimed at boosting liquidity and compensating banks for considerable amounts of funds withdrawn out of excess liquidity in the market over recent months.
The statement added that the move fits within the CBUAE’s mandate to direct the country’s credit policy. This includes regulating and overseeing the monetary and banking policy, ensuring their alignment with the government’s general plan in a way that ultimately strengthens the domestic economy, assures financial stability, regulates cash flows and withdraws cash surplus in order to retain economic resilience.
According to figures released by the CBUAE, certificates of deposit declined to AED 139.2 billion by the end of March 2019, from AED 146.5 billion in February. Injecting additional liquidity could generate more business momentum, according to analysts.
Over the first two months of 2019, a total of AED 8 billion in cash was withdrawn from the market, after AED 12.4 billion-worth of excess liquidity was withdrawn in December 2018, according to CBUAE figures.
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Content and Communications Manager
Siddhi Sainani is a business and finance writer and a public relations professional with experience across markets in the UAE, Oman, India and the United States.
At Cavendish Maxwell, Siddhi is responsible for crafting research and marketing communications material for the firm’s various stakeholders including clients and government entities. She also leads the public relations activities for the firm, focusing on media outreach, reputation management and spokesperson profiling.
In her previous roles, Siddhi has reported on the financial markets for news outlets, developed institutional research for several institutions, and undertaken corporate communications initiatives for leading firms across sectors such as real estate, finance, banking, audit and advisory, and technology, among others.
Siddhi has a Bachelor of Mass Media degree with a specialisation in journalism and also holds a Post-Graduate Diploma in Integrated Communications covering advertising, marketing and public relations from Xavier Institute of Communications, Mumbai, India.
Sarah-Jane Carter
BA (Hons) DipM
Head of Marketing
Sarah-Jane joined Cavendish Maxwell in January 2020 as Head of Marketing and is responsible for the development of the marketing strategy and execution across the Middle East region. An energetic and results driven marketer, Sarah-Jane possesses a wealth of multi-channel marketing experience, within both B2B and B2C environments which she has gained over a 25 year career. Prior to joining Cavendish Maxwell, Sarah-Jane held senior marketing positions for major developers in Dubai including Emaar, Dubai Properties and Dubai Sports City. She also worked for IWG as the Regional Marketing Director responsible for the MEA and APAC regions. Before relocating to the UAE in 2005, Sarah-Jane held various management roles in public and private sector companies in the UK including ten years at Royal Mail and seven years at the Bank of America.
Sarah-Jane is a member of the Chartered Institute of Marketing and has a BA(Hons) Degree in Business and Marketing