The UAE continues to lead the Arab banking sector, boasting the largest share of the $4.574 trillion market, according to the Arab Monetary Fund (AMF). As of the end of 2023, UAE banks held an impressive 24.3% of the region's banking assets, surpassing Saudi banks, which accounted for 23.1%.

The AMF's latest Financial Stability Report highlights a robust growth of 5% in the total assets of the Arab banking sector, up from $4.355 trillion in 2022. This growth underscores the strong confidence customers have in the sector, despite regional and global challenges.

The report also notes that the Gulf Cooperation Council (GCC) banking sector is projected to represent 73.1% of the total assets by year-end 2023. Notably, the UAE banking sector experienced an asset growth rate of 11%, driven by increased credit and investments. In contrast, Saudi Arabia's banking sector grew by 9.3%, buoyed by a rise in real estate loans and credit across various economic sectors.

As the UAE solidifies its position at the forefront of the Arab banking landscape, it reflects a thriving and resilient financial environment that continues to adapt and grow.

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