CBUAE Urges Banks to Support Private Sector Corporates, SMEs, and Individuals through COVID-19

The Central Bank of UAE (CBUAE) has urged all banks operating in the country to extend their assistance for corporates, small and medium enterprises (SMEs), and individuals to mitigate all risks associated with COVID-19. During a meeting between CBUAE’s Governor, Abdulhamid Saeed, and CEOs of banks operating in the country, Saeed emphasised the importance of extending support to private sector companies and individuals affected by COIVD-19 as part of the Targeted Economic Support Scheme (TESS).

At the meeting, the CEOs appreciated the exceptional measures taken by CBUAE and welcomed its efforts to support the banking sector and the national economy, while expressing their willingness to participate in the TESS. CE...