Liquidity in UAE banking sector back to pre-Covid-19 level: Central Bank
Waheed Abbas/Dubai Filed on March 16, 2021
The apex bank announced the first stimulus package of Dh100 billion in March 2020 to support economy, banks, businesses and individuals. It was later increased to Dh256 billion to accelerate the economic recovery. File photo
Drawdowns by local banks under the Central Bank’s Targeted Economic Support Scheme (Tess) launched last year at zero-cost to support businesses and individuals stood at Dh22 billion in March 2021
The overall liquidity of the UAE banking system has returned to the pre-Covid-19 level, said Abdulhamid Saeed Alahmadi, governor of the Central Bank of the UAE (CBUAE).