Coronavirus: UAE Central Bank announces $27.22 bln fiscal support scheme

Coronavirus: UAE Central Bank announces $27.22 bln fiscal support scheme

The UAE Central Bank announced on Saturday a comprehensive $27.22 billion (100 billion dirhams) targeted economic support scheme aimed at containing coronavirus.

The Central Bank of the UAE had said on Wednesday that it is prepared to support the country’s banking system in mitigating any downside risk from the coronavirus outbreak, according to Abu Dhabi-based The National.
The regulator had also added that it has established a committee to ensure there is no disruption in critical services to individual or corporate consumers.
The entity said that it directed banks in the country to have sufficient cash loaded at their ATMs while branches were informed to update customers in case there was a change in opening hours.

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