According to Arabia Net, the Central Bank indicated in a statement that these measures include rescheduling loans and allowing the postponement of monthly payments of loans in addition to reducing fees and commissions for clients affected by Corona.
The UAE Central advised all banks and finance companies to review and update their business continuity plans, with a view to ensuring the financial sector's preparedness for any possible escalation of the Corona virus outbreak.
The bank said that the financial institutions operating in the country have good capitalization and are in a position to support clients affected by the virus without endangering its safety and financial stability.
He stressed that he continues to closely monitor the financial and economic situation in the country.
