The President of the Emirates Banking Association, Abdulaziz Al Ghurair, denied that there was a failure by the banks' risk departments to verify the creditworthiness of the "NMC" health care company, stressing that the banks dealt with the company professionally.
Al Ghurair said in a press interview, today, which was organized remotely, that the company is listed on the London market among the 100 best companies, budgets and financial data come out and audited outside the country, explaining that the company has dealt with 80 banks and lenders destination in the UAE and abroad.
He added that "what happened is a fraud and fraud, which the competent authorities inside and outside the state undertake to investigate."
Al Ghurair stated that the legal guardianship of the company has now been imposed in a manner that does not allow any manipulation of the financial statements or any illegal matters.
He stressed that the banking sector in the UAE is strong and has sufficient liquidity covering up to four or five years to come, and does not need any external support.
He also stressed that banks have additional support and liquidity estimated at 256 billion dirhams, which will be provided to companies affected by the current conditions quickly, but at the same time take into account transparency and the application of conditions.
Al Ghurair pointed out that what is happening now is an opportunity for companies to change the way they work and reduce unnecessary expenses, pointing to the success of remote work in the banking sector as well as government agencies.
He stated that banks value the conditions of clients who left their work or took unpaid leave and give them appropriate delays, stressing that there is a demand for employment internally after the epidemic receded due to the difficulty of bringing in workers from abroad during the next four months.