The Central Bank has announced its readiness to support the banking system, with the aim of reducing the risk of corona virus outbreak (COVID-19), in order to ensure the stability of the banking sector in the United Arab Emirates.

As part of the Central Bank's efforts to ensure the safety of its employees, the Central Bank has formed an internal committee, responsible for taking preventive measures to reduce the spread of the virus in its headquarters and branches, and these measures include providing basic preventive guidance to protect employees from the Corona virus.

He pointed out that the employees of the branches of the Central Bank, who deal with paper money, are required to strictly comply with the clearance procedures, and procedures for communicating with companies that transfer money to and from the branches, to ensure the progress and continuity of operations, as the money is not dealt with naked hands without the use of gloves.

Moreover, remote work has been progressively activated within the appropriate controls and in line with the business continuity plan, and external and internal meetings have been replaced with virtual platforms.

In order to achieve protection for the financial community, a committee was formed to communicate with the banks to guide them on the systematic of their business continuity plan, to ensure that the vital services of customers, individuals and companies, are not interrupted if the banks are affected by the virus.

He pointed out that banks should be ready to provide a sufficient amount of banknotes in ATMs and branches, and to keep their customers informed in the event of any change in working hours, as well as to ensure that their digital channels and call centers are equipped to deal with the large use flow .

"The central bank is closely monitoring developments related to the spread of the Corona virus, and we are working with banks and other financial institutions, in addition to other stakeholders, to provide them with the necessary support to reduce the negative impact on financial stability and economic growth," said central bank governor Mubarak Rashid al-Mansouri.

Money is not handled with naked hands without the use of gloves.