Dubai Islamic Bank Provided USD 2.5 Billion Under UAE’s TESS Programme in Aid of COVID-19

Dubai Islamic Bank (DIB) reported that it has provided approximately USD 2.5 billion in 2020 towards COVID-19 support for over 54,000 of its customers in retail and corporate sectors, under the Targeted Economic Support Scheme (TESS) rolled out by the Central Bank of the United Arab Emirates (UAE).

Why it matters?

This support was provided to ‘ensure business continuity’ and minimal customer impact throughout the year. Dr Adnan Chilwan, Chief Executive Officer of DIB, announced DIB’s repositioning to #ReadyForTheNew and its vision of creating better alignment with the future plans of the UAE. The CEO stated DIB’s aim of providing ‘simple, convenient and accessible’ financial solutions through better engagement and...