The Central Bank announced today the names of 17 local banks that have withdrawn 38.5 billion dirhams from the liquidity facilities that they provided with 50 billion dirhams within the financial support plan for the national economy due to the spread of Corona virus.
In a statement, the CBE stressed the progress of banks to support customers affected by the repercussions of the outbreak of the Covid-19 epidemic, as banks withdrew about 77% of the liquidity facilities amounting to 50 billion dirhams, equivalent to 38.5 billion dirhams of financing granted to date within the comprehensive economic support plan directed .
"To motivate banks and finance companies to withdraw more liquidity facilities granted by the central bank at zero cost to use for the benefit of private sector companies, small and medium enterprises and individuals who were negatively affected by the repercussions of the Covid-19 epidemic, the central bank issued a notice that includes additional clarifications of requests for deferred payment under a plan Economic support This notice aims to facilitate the implementation of the support plan.
According to the notice, banks and finance companies must consider the specific circumstances of the affected borrowers to obtain a request to postpone payment within the economic support plan, as the options for granting postponements include the following postponing the amount of the loan principal only or postponing the payment of the interest / profits and the amount of the loan principal together or postponing the interest / Profits only
The notice indicated that the most requested option would be to postpone the payment of the interest / profits and the principal amount of the loan together unless the borrower's circumstances allowed other options to be accepted.
The Central Bank welcomed the initiatives taken by some banks to support their affected clients, without any withdrawals from the general program available to them.
The Central Bank announced the publication of the list of banks that have used more than 50% of the liquidity facilities of the support plan, which aims to protect and support affected clients in these exceptional circumstances.
The central bank urged banks to withdraw the funding granted to them and contribute to supporting the national economy.
The list of banks that have used more than 50% of the liquidity facilities of the comprehensive economic support plan directed by the Central Bank