"Do not paralyze them" was a beacon for officials to take bold steps to contain the crisis

Al-Markazi: Mohammed bin Zayed's directives behind the UAE's economic recovery from "Covid-19"

“The pride of the country” honored the “central” last month for its efforts to mitigate the repercussions of “Corona”.

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The Central Bank stressed the importance of the efforts made by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces and Head of the Office of Pride of the Nation, to support plans for the growth and stability of the national economy during the Covid-19 pandemic.

The Central Bank said, in a statement yesterday, that «His Highness’s directives to support the economy and the financial system of the UAE, during the (Covid-19) pandemic, had the greatest impact on the economic recovery that the country is currently witnessing.

The Governor of the Central Bank, Abdul Hamid Saeed, expressed his pride in the appreciation that the "Pride of the Nation" office gave to the Central Bank.

He said: “The credit for the unprecedented success that the UAE has achieved in the face of the (Covid-19) pandemic goes to His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and his insightful vision and sound decisions. His Highness’s saying (Do not cripple them) is a light for all officials to take bold steps and quick and right decisions to contain the crisis.

The governor added: “On my own behalf and on behalf of all employees of the Central Bank, I sincerely thank and appreciate His Highness for the appreciation of the Office of Pride of the Nation, and for his praise of the efforts of the Central Bank in maintaining the stability of the economy and the financial system in the country during this period, which was characterized by a lack of clarity of vision. Due to the (Covid-19) pandemic. '

The Governor praised the efforts of Sheikh Sultan bin Tahnoun Al Nahyan, Chairman of the Board of Directors of the Office of "Pride of the Nation", in cooperating with the Central Bank in overcoming this crisis and its economic and social consequences, affirming that the Central Bank will continue its commitment to support the national economy, and to take additional targeted measures on a regular basis if necessary. So.

He valued the important role played by the "Pride of the Nation" office in highlighting the efforts of the heroes working on the front lines, saying: "We express our gratitude to them for their outstanding contributions and sacrifices in protecting society, its health and safety."

The Office of "Pride of the Nation" honored the Central Bank last month in appreciation of the great efforts it had made as part of the efforts of the UAE government to mitigate the repercussions of the epidemic. The Central Bank adopted a wide-ranging stimulus package that included a comprehensive targeted economic support plan. These efforts culminated in considering the Central Bank one of the champions The country's first line of defense for its active role and its swift measures to support the UAE economy and its financial system.

The comprehensive economic support plan aimed at strengthening the ability of the financial system to support individuals and companies affected by the repercussions of "Covid-19" succeeded.

The Central Bank confirmed that all national Emirati banks, in addition to foreign banks operating in the country participating in the support plan, have played an active role in providing financial support to families, companies and the financial sector in general, which has positively contributed to the prosperity of the national economy.

The number of clients benefiting from the loan exemption program of the support plan reached more than 321,500 beneficiaries, including 310,000 individuals, 10,000 small and medium enterprises, and 1,500 private sector companies, according to the latest Central Bank data.

The Central Bank continues to be committed to supporting the national economy, and to take additional targeted measures on a regular basis.

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