News update: UAE Central Bank seeks measures to mitigate economic impact of coronavirus

Posted on

Banks asked to reschedule loans and reduce fees and commissions.

Dubai: The Central Bank of UAE (CBUAE) on Saturday asked banks to reschedule loans and reduce fees and commissions as part of measures to mitigate the economic effects of the coronavirus outbreak.

The country is a regional business hub and major transit point for passengers travelling to China and other destinations in Asia.

“Financial institutions are expected to implement measures such as re-scheduling of loans contracts, granting temporary deferrals on monthly loan payments, and reducing fees and commissions for affected customers,” Reuters quoted a central bank said statement .

Read more at: Gulf News

This entry was posted in General, Gulf News, Information - Investment +, UAE.

Leave a Reply

Please log in using one of these methods to post your comment:

Gravatar
WordPress.com Logo

You are commenting using your WordPress.com account. ( Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. ( Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. ( Log Out /  Change )

Cancel

Connecting to %s