In an indication of its financial strength and having sufficient liquidity to run its business in the best way possible
Banks return 14.47 billion dirhams of the liquidity of the Central Bank facilities
The restoration of liquidity reduced the balance of financial facilities to 30.25 billion dirhams.
UAE banks have returned about 14.47 billion dirhams of the liquidity of the zero facilities provided by the Central Bank, as of March 2020, to these banks, in order to support the business sector and individuals affected by the Corona pandemic.
Statistics released by the Central Bank show that the restoration of this liquidity reduced the balance of its financial facilities to 30.25 billion dirhams at the end of December 2020.
The banks ’commencement of returning part of the liquidity of the financial facilities to the Central Bank reflects its financial strength, and its possession of sufficient liquidity to fully manage its business.
In March 2020, the Central Bank launched a support plan worth 50 billion dirhams, to support the country's economy in general, to face the repercussions of the "Covid-19" pandemic, through a set of support measures for the banking sector related to financing, liquidity, lending, and capital.
The subsidy plan, according to what was announced by the Central Bank in February 2020, strengthened the financial system’s ability to support individuals and companies.
The loan exemption program included in the support plan has benefited more than 310,000 individual clients, about 10,000 small and medium enterprises, and more than 1,500 private sector companies in the country.
Statistics show that some banks began restoring support liquidity as of October 2020, as the balance of central bank loans decreased to 37.42 billion dirhams, then to 35.55 billion dirhams in November 2020, and then closed in December at the level of 30.25 billion dirhams.
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