UAE Central Bank relief package reaches Dhs6.2b, benefiting over 65,000 individuals and firms

The Central Bank of the UAE (CBUAE) today announced the key outcomes of the comprehensive proactive support package aimed at enhancing the resilience of financial institutions.

The CBUAE said the total value of facilities benefiting from the package reached Dhs6.2 billion, including loan deferments, interest relief and fee waivers.

It noted that the number of beneficiaries reached 65,379, including 60,559 individuals, 4,335 small and medium-sized enterprises, and 485 corporates.

The central bank added that priority sectors benefiting from the package included the hospitality sector with 173 companies, the transport sector with 361 companies, and the entertainment sector with 134 companies.

The CBUAE affirmed the continued growth of the banking sector during the period from March 1, 2026 to May 1, 2026, with assets rising by 2.1 per cent, loans by 3.2 per cent and deposits by 1.9 per cent, while the monetary base cover ratio reached 115.3 per cent.

It confirmed that affected establishments may continue communicating with banks during the specified period.

BIG RELIEF FOR AFFECTED ESTABLISHMENTS

The CBUAE explained that the support mechanisms available to affected establishments include deferment of repayment installments for up to six months without classification as default, suspension of interest and fees on affected facilities, in addition to the continuation of credit financing for priority economic sectors.

It added that eligibility criteria stipulate that establishments affected by economic disruptions are eligible to benefit from deferred instalments, with the hospitality, transport and other affected sectors receiving priority in implementation. Eligible entities include corporates, small and medium-sized enterprises, and individuals, while no minimum loan size is required to benefit from the support package.

WAM