AED4.7b transferred via CBUAE’s IPI“ˆin one year
- Date: 17-Jul-2020
- Source: Emirates Business
- Sector:Technology
- Country:UAE
AED4.7b transferred via CBUAE’s IPI“ˆin one year
Admin 2 hours ago Local News
ABU DHABI / WAM
Financial transfers conducted through the Immediate Payment Instruction (IPI) reached AED4.7 billion since the system was introduced by the central bank of the UAE (CBUAE) in June 2019. CBUAE statistics revealed that 1.9 million easiest and fastest transfer transactions were made from June 2019 to June this year. The CBUAE has introduced the IPI to enable customers make an immediate payment or transfer to another bank account in the UAE in real time, 24/7, 365 days a year and without any cut-offs. With IPI, customers can initiate domestic fund transfers within UAE in one minute for any amount within the limit of AED10,000.
2020-07-17
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