Bahrain's money supply increases 7 per cent in February

MANAMA: Bahrain's money supply (M3) increased significantly this February, reaching BD13.8 billion, which when compared to BD12.9bn as of end-February last year is an increase of 7 per cent.

In the latest monthly statistical bulletin, the Central Bank of Bahrain (CBB) has noted an overall improvement in monetary and banking indicators compared to the same period last year.

The report found that total outstanding balance of public debt instruments which includes development bonds, treasury bills, Islamic leasing securities and Al Salam Islamic securities increased at the end of February 2020 to BD12bn, compared to BD11.5bn in February 2019.

The data also indicated an increase in the total balance sheet of the banking system from $198.4bn at the end of February 2019 to $208.2bn at the end of February 2020, a significant increase of BD9.8bn, or 4.9pc, in the 12-month period.

The balance sheet of retail banks increased by BD2.3bn, or 6.9pc, reaching BD35.6bn at the end of February 2020 compared to BD33.3bn as at end of February 2019.

The data also shows an increase in local non-bank deposits which amounted to BD13.2bn at the end of February 2020 compared to BD12.4bn at the end of February 2019, an increase of 6.5pc.

The total value of outstanding loans and credit facilities provided by retail banks amounted to BD9.8bn at end of February 2020 compared to BD9.6bn at the end of February 2019, an increase of 2.1pc.

This amount includes loans and facilities provided to the personal sector amounting to BD4.4bn at the end of February 2020 compared to BD4.2bn at the end of the same period last year.

The data indicates that credit card and debit card transactions across point of sale (POS) terminals amounted to BD205.7m in February 2020 compared to BD168.8m in February 2019; marking a significant increase of BD36.9m or 21.8pc.

 

Source: http://www.gdnonline.com/Details/789156/Bahrains-money-supply-increases-7-per-cent-in-February

 

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