UAE launches support programme for country’s banks
Central bank releases capital buffers and provides capital rule relief to help lenders during conflict
The Central Bank of the United Arab Emirates today (March 18) announced a package of “proactive” measures to support commercial lenders during the ongoing conflict in the Middle East.
It stressed that the country’s banks remained well-capitalised and that its own reserves, amounting to more than 1 trillion dirhams ($272 billion), were at a record high. Commercial lenders held around 920 billion dirhams ($250 billion) at the central bank. Around 400 billion dirhams of this was in cash, with the
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