UAE Banking sectors offering relief packages
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The banking sectors in UAE offering relief packages to its Residents and business to handle burdens on their shoulders affected by COVID-19.
To lift such burden a group in Dubai offering this package to its customers and businesses. Read Key Factors to manage your financial budgets.
A letter will be issued on 1st April and last on 30 June, which will guarantee three months relief plan.
The following banks are taking part in this effort.
- Dubai Islamic Bank
- National Bank of Dubai NBD
- Emirates NBD
- Emirates Islamic Bank
- Mashreq Bank
- Commercial bank of Dubai – and some other joining part of this.
The banks seeking to support the UAE Government and Central bank of UAE six months, economic impulse package. WAM wrote in a statement
“We recognise the need to protect those most vulnerable and are committed to lending a helping hand during this uncertain time,”Sheikh Ahmed bin Saeed Al Maktoum, chairman of Emirates NBD, according to Arabian Business.
“We would like to reassure our customers that they can continue to bank with us safely through our pioneering digital banking solutions. I am confident that the measures we have put in place, combined with our proven expertise in digital banking, financial strength and liquidity will help us continue delivering on our promise of superior customer service during this extraordinary time,” Al Maktoum added@wamnews_eng
Some of the measures will take time in the next month to assure SMB Enterprize businesses and lenders.
UAE Central Bank announced 100 Billions Dirham.
The central bank of UAE announced 100 million dirhams ($27.2 billion) by targeting (ESS) Economic Support scheme to measure and economic effect of the COVID-19 pandemic on March 14.
Official hotline numbers for COVID-19 advice and information:
UAE: +971 56 3713 090
SAUDI ARABIA: 937
KUWAIT: 24970967 – 96049698 – 99048619
BAHRAIN: (+973) 17246769
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