Bahrain’s money supply jumps 7pc: CBB

TDT | Manama

Bahrain’s (M3) money supply recorded a significant 7 per cent increase as at end of February 2020, a Central of Bahrain (CBB) statement said which indicated an overall improvement in monetary and banking indicators compared to the same period-end of last year.

The money supply (M3), CBB said, increased significantly, reaching BD13.8 billion as at end of February 2020, compared to BD12.9 bn as at the same period-end last year.

Bahrain’s 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 BD12.0 bn, compared to BD11.5 bn in February 2019.

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

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

The data also shows an increase in local nonbank deposits which amounted to BD 13.2 bn at the end of February 2020 compared to BD12.4 bn 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 BD9.8 bn at the end of February 2020 compared to BD 9.6 bn at the end of February 2019, an increase of 2.1pc.

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

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