The decision laid down conditions and controls for plant-production practices on small farms, improving marketing opportunities for local products
The Central Bank of the UAE (CBUAE) on Tuesday extended integral parts of its Targeted Economic Support Scheme (Tess) until mid-2022 to help individuals and private sector companies overcome the impact of the Covid-19 pandemic.
ALSO READ:
>> Full UAE recovery in 2022: Central Bank
>> Sheikh Mansour to head UAE Central Bank board of directors
The regulator said financial institutions would continue to be eligible to access the collateralised Dh50 billion zero-cost liquidity facility up to June 30, 2022, to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporate entities affected by Covid-19 repercussions.
The CBUAE’s financing for loan deferrals under the stimulus package will also be extended until the end of this financial year. The outstanding financing for the Tess deferrals shall be fully phased out by December 31, 2021.
While the pandemic affected the economy, both in the UAE and globally, the CBUAE expects financial institutions to prioritise lending through the Tess to the most negatively affected sectors, businesses, and households, contributing to a balanced revival of the UAE’s diversified economy.
“The extension of the Tess shall allow continued support by the financial system to the sectors negatively affected by the Covid-19 pandemic. This is done to support the recovery phase, in line with the Central Bank’s mandate to ensure financial and monetary stability,” said Khaled Mohamed Balama, Governor, CBUAE.
waheedabbas@khaleejtimes.com
The decision laid down conditions and controls for plant-production practices on small farms, improving marketing opportunities for local products
Abu Dhabi-based airline will also add Bali, Mykonos, Nice, and more as summer destinations
Most Asian currencies slipped, with the Indonesian rupiah down nearly 0.2% and leading losses
The fleet includes stainless-steel tankers, which are equipped with an operating box or pump room installed at the rear of the vehicle instead of at the bottom of the tankers. This change in the location of the operating box helps to facilitate safer operations
The airline will refurbish another 43 A380s and 28 Boeing 777
Yellow metal prices retraced from earlier gains following the release of the US April employment report
New investment adds to the S$11.5 billion the company has poured into the Asia Pacific Region until 2023
Safety experts have said the problems at the company suggest significant safety culture defects that will not be turned around quickly