We use cookies and similar technologies that are necessary to operate the website. Additional cookies are used to perform analysis of website usage. By continuing to use our website, you consent to our use of cookies. For more information, please read our Cookies Policy.

Closing this modal default settings will be saved.

UAE Central Bank Extends Economic Support Plan

Owner's Profile

Staff Writer, TLR

Published on July 14, 2023, 17:41:00

84

uae economy, uae central bank, central bank of uae

The UAE Central Bank has announced the extension of measures taken for the recovery of the economy during the pandemic.

Several of the measures included in the comprehensive economic support plan has been extended to help the national economy.

As per the announcement released by the UAE Central Bank, precautionary measures on capital reserve requirements, liquidity and funding sources for banks will be extended for another six months.

A temporary reduction of the capital maintenance margin and capital reserve of local banks will be included under the capital reserve measures. A temporary prudential reduction in the liquidity coverage ratio, ratio of eligible liquid assets and ratio of net stable funding among other measures are included under the liquidity control measures.

The prediction of the Central Bank stated that all the banks operating within the country will be able to recover in a sustained manner under this economic plan until June 2022.

Comments