The Central Bank of the United Arab Emirates (UAE) has announced that it has welcomed the initiative of the banking sector to exempt national service members from the minimum balance fees and the cancellation of the minimum balance when opening an account in support of the national service program.
Accordingly, the Central Bank issued a notice to all banks operating in the UAE regarding the exemption of national service employees from the minimum balance and the cancellation of fees imposed if the balance is less than the minimum. Banks were instructed to ensure that citizens join the national service through a certificate issued by the National Service Authority. The reserve stated that registration procedures had been completed and that there were no grounds for exclusion, delay or legal exemption from national service, prior to granting the exemption.
On this occasion, the Governor of the Central Bank of Egypt Mubarak Rashid Al Mansouri expressed his thanks to Major General Tayyar Sheikh Ahmed bin Tahnoon Al Nahyan, Chairman of the National and Reserve Service Authority for his keenness to facilitate the affairs of the members of the National Service and his communication with the Central Bank in order to facilitate the procedures for opening the account for them. UAE banks and the banking sector to respond and support.