UAE central bank extends $13.6 bln stimulus measure until end of the year

The United Arab Emirates central bank decided to extend until the end of this year a 50 billion dirhams ($13.6 billion) facility introduced to help banks and financial companies, state news agency WAM said on Wednesday.

The “zero cost funding support facility” was one of a series of stimulus measures introduced last year by the UAE central bank to contain the impact of the coronavirus crisis on the economy.

Eralier, UAE’S President Sheikh Khalifa bin Zayed appointed Khalid al-Tameemi as governor of the UAE’s central bank, state news agency WAM said.

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