UAE banking system stays strong, support plan to continue: CBUAE

A grand view of the UAE Central Bank’s headquarters in Abu Dhabi.

Business Bureau, Gulf Today

Our assessment and recent economic data point to a post-pandemic rebound of the UAE economy. The UAE banking system remains resilient, and our support measures in the form of the CBUAE’s Targeted Economic Support Scheme and other measures will remain in place until the middle of next year. Against this background, we expect banks to support the economy and ensure a continued flow of funds to creditworthy retail and corporate clients.

This was revealed by  Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), on Tuesday during  a meeting with the CEOs of all banks operating in the UAE to discuss the macroeconomic environment, provide the CBUAE’s assessment of financial stability, and inform about the CBUAE’s ongoing regulatory and supervisory initiatives. A particular focus of the meeting…

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