Dubai: In a regular meeting of the Board of Directors of the UAE Central Bank on Wednesday, the attendees were briefed on the comprehensive stimulus economic plan and its role in mitigating the financial and economic fallout of the COVID-19 pandemic. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Chairman of the Board of Directors of the UAE Central Bank chaired the meeting.
This includes a decision to extend the Dh50 billion zero-cost facilities available for the use of banks and finance companies. This extension is part of the postponement program to enable deferral of payments of loans from individuals and sectors affected by the repercussions of the pandemic until the end of 2021.
UAE: Use of Dh50 billion in zero-cost facilities for banks, finance companies extended gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
Dubai: The United Arab Emirates appointed financial services veteran Khaled Mohammed Al Tameemi as the central bank governor as it plots a way out of the pandemic-driven economic downturn.
Al Tameemi, who has worked in banking and financial services for more than three decades, previously held the central bank s vice chairman post. He was previously a board member at the General Pension and Social Security Authority, and an executive director of the real assets department at Abu Dhabi Investment Council.
He will take over from Abdulhamid Saeed Alahmadi, who became governor last April at the height of the coronavirus outbreak and is retiring, according to state-run WAM news agency.