CBUAE, has decided on additional measures within the Targeted Economic Support Scheme, TESS, launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy.
CBUAE calls on consumers not to disclose personal information due to increase of fraudulent activities
The Central Bank of the UAE, CBUAE, has alerted consumers of the increase in fraudulent activities, and stresses not to disclose private information such as personal and bank account information to any person or entity.
President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree restructuring the Board of Directors of the Central Bank of the UAE.
Value of funds collected through the UAE Direct Debit system, UAEDDS, of the Central Bank of the UAE, CBUAE, rose by 7 percent to AED61 billion in 2019 from AED57 billion in 2018, according to figures released by the CBUAE.
The Central Bank of the UAE, CBUAE, announced that the Money Supply aggregate M1 increased by 0.7%, from AED 560.3 billion at the end of April 2020 to AED 564.3 billion at the end of May 2020.
The Central Bank of the UAE, CBUAE, has projected the recovery of economic activity to commence in the second half of the year.
KPMG recently released the results of its fifth edition of the ‘GCC listed banks’ report, which analyses the published results of listed commercial banks across the region for the year ended 31st December 2019.
During the first quarter of 2020, the total loans provided by Emirati banks to small and medium-sized enterprises, SMEs, totalled AED93.4 billion, an increase of AED3.9 billion or 4.3 percent compared to AED89.5 billion in the fourth quarter of 2019.
UAE Central Bank publishes Bank’s names that availed more than 50% of the allocated TESS( Targeted Economic Support Scheme) liquidity facility
The Central Bank of the UAE, CBUAE, endorses banks’ progressive steps to support customers affected by the COVID-19 pandemic. To date, 77 percent is already drawn-down from the AED 50 billion liquidity facility within the Targeted Economic Support Scheme,
The Central Bank of the UAE, CBUAE, has endorsed banks’ firm steps to support their customers affected by the COVID-19 pandemic. To date, 75 percent was already draw-down from the AED50 billion liquidity facility, equivalent to AED37.2 billion total consumption of allocated funds.
The UAE Dirham has appreciated against the currencies of top 10 non-dollarised import partners by 1.8 percent in 2019, according to Central Bank of the UAE statistics.
overall real GDP is estimated by FCSA (Federal Competitiveness and Statistics Authority) to have grown by 1.7 percent in 2019," said the financial regulator in its Annual Report 2019.
The total gross deposits of the private sector in the UAE banks amounted to circa AED1.076 trillion by the end of March 2020, a 1.7 percent growth of AED18 billion from AED1.058 trillion in December 2019
Emirates NBD (DFM: EmiratesNBD), a leading banking group in the region, delivered a solid set of results with net profit increasing 3% q-o-q to AED 2.1 billion. Net interest income increased 45% y-o-y and non-interest income grew 48% y-o-y with the acquisition of DenizBank in 2019
Central Bank urges banks to support private sector corporates, SMEs, individuals to mitigate effects of COVID-19
The Governor of the Central Bank of the UAE (CBUAE), Abdulhamid Saeed, held his first meeting with CEOs of banks operating in the country to emphasise the systemic significance of extending support to private sector companies and individuals affected by COVID-19
With more than 35 years of experience in the banking and financial services, Saeed held key positions as a board member of the First Abu Dhabi Bank, the Abu Dhabi Developmental Holding Company, the Emirates Investment Authority, the Abu Dhabi Securities Exchange and Sky News Arabia.