UAE Islamic bank deposits gain 1.95 pct market share from May 2015 to Jul 2017

Deposits in the United Arab Emirates' Islamic banks have grown faster than in the nation's conventional banks from May 2015 to July 2017, resulting in a market share increase for Shariah-compliant banks of 1.95 percent. 

The market share of UAE Islamic bank deposits increased from 21.74 percent in May 2015 to 23.69 percent in July 2017, according to Salaam Gateway's calculation of data from the central bank. 

Deposits in all categories have increased for Islamic banks except non-banking financial institutions, which contracted 27.8 percent from May 2015 to July 2017. Deposits from this category nudged up 4.64 percent for conventional banks over the same period. 

From end-May 2015 to end-July 2017: 

Non-resident deposits increased 114.29 percent (24.32 percent for conventional banks)

Deposits from government-related entities (GREs) rose 21.83 percent (-6.67 percent for conventional banks)

Private sector deposits were up 19.94 percent (6.98 percent for conventional banks)

Government sector deposits went up by 14.23 percent (6.53 percent for conventional banks)

Non-banking financial institutions plunged 27.8 percent (4.64 percent growth for conventional banks)

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