13 Customers’ Deposits and Margin Accounts

Customers’ deposits and margin accounts

  2018   2017
  AED’000   AED’000
       
Call and demand deposits 219,765   222,281
Time deposits 1,785,555   1,870,287
Wakala deposits

35,045

 

60,834

 

2,040,365

 

2,153,402

Margin accounts (i)

706,910

 

797,142

 

2,747,275

 

2,950,544

Analysis of customers’ deposits by sector is as follows:      
Government 976,732   720,414
Corporate 1,770,543   2,230,130
 
2,747,275
 
2,950,544

 

Margin accounts represent cash margins collected from corporate customers against unfunded and funded credit facilities extended to them in the normal course of business.

Customers’ deposits and margin accounts carry interest/profit rates ranging from Nil to 4.50% p.a (2017: Nil to 3.5% p.a).