The board of the Central Bank of the UAE (CBUAE) said the country’s financial system has remained resilient despite “extraordinary” global and regional market conditions, approving a package of measures to support banks and the broader economy.

The board, chaired by Sheikh Mansour bin Zayed Al Nahyan, held its second meeting of the year and noted there had been no material impact on the health of the banking sector or payment systems.

To reinforce stability, the board approved a financial institution resilience package aimed at strengthening banks’ capacity to navigate current conditions and continue lending.

The central bank said the UAE’s banking sector, with total assets of about Dhs5.4tn ($1.47tn), remains underpinned by strong fundamentals.

It added that foreign exchange reserves exceed Dhs1tn, with a monetary base cover ratio of 119 per cent.

Liquidity in the banking system also remains robust, with total liquidity held by banks at the central bank and eligible assets for its operations reaching nearly Dhs920bn. Of this, reserve balances account for more than Dhs400bn.

CBUAE resilience package measures

The resilience package includes five pillars, covering expanded access to liquidity, temporary relief on funding and liquidity ratios, and flexibility in capital buffers.

It also allows banks to defer classification of certain loans for customers affected by current conditions.

The measures include enabling banks to access up to 30 per cent of their cash reserve requirements and providing term liquidity facilities in both dirhams and US dollars.

The central bank said it stands ready to deploy additional policy tools to safeguard financial stability and ensure continued support for the national economy.

Sheikh Mansour said the UAE’s financial strength reflects long-term policy planning and proactive regulatory frameworks, adding that the country’s banking system continues to demonstrate resilience and global competitiveness.

At a glance: Five pillars and what they offer

• Monetary measures: Access up to 30 per cent of reserve balances, plus Dhs and USD liquidity facilities
• Liquidity relief: Temporary easing of liquidity and funding ratios
• Capital relief: Release of Countercyclical Capital Buffer (CCyB) and Capital Conservation Buffer (CCB)
• Credit flexibility: Delay loan classification for affected borrowers
• Ongoing support: Banks urged to continue lending to the economy

The Emirates Drug Establishment (EDE) has confirmed that the UAE’s strategic stockpile of medicines and medical supplies remains secure and sufficient to meet domestic demand, as authorities continue to strengthen the country’s pharmaceutical resilience.

The update comes as Dr Fatima Al Kaabi, Director-General of EDE, conducted a series of field visits to pharmaceutical manufacturing facilities across the UAE to assess production capabilities, support local industry, and review advanced technologies used in drug manufacturing.

During the visits, officials were briefed on current output levels, expansion plans, and quality and safety systems aligned with international standards. The inspections also highlighted the growing role of local manufacturers in supporting supply chain stability and ensuring the availability of essential medicines, WAM reported.

Dr Al Kaabi said: “The UAE’s pharmaceutical ecosystem is capable of responding efficiently to various regional and global developments. The country has succeeded in strengthening the capabilities of local pharmaceutical manufacturers and establishing legislative and regulatory frameworks that support the continued growth of this sector.”

She added that local manufacturers play a critical role in safeguarding national drug security and supporting the broader economy, noting that close coordination between regulators and industry has helped ensure uninterrupted supply.

Al Kaabi added: “The UAE’s pharmaceutical sector is stable and well-prepared, backed by an advanced regulatory system that ensures the steady availability of medicines to the community in line with the highest standards of quality and safety.”

The visits included facilities operated by Medisal Pharma and ADCAN Pharma, where production processes and quality assurance systems were reviewed.

Neha Srivastava, managing director of Medisal Pharma, emphasised the company’s role in supporting the UAE’s pharmaceutical ecosystem and commended the regulator’s efforts to strengthen industry readiness and collaboration.

Srivastava said the UAE benefits from a strong pharmaceutical base supported by a robust regulatory environment, adding that the company remains focused on ensuring consistent product availability and preventing shortages.

Fokion Sinis, CEO of ADCAN Pharma, highlighted the importance of local manufacturing in maintaining supply continuity amid global disruptions, reaffirming the company’s commitment to meeting market demand and enhancing production capabilities in coordination with EDE.

The field visits form part of EDE’s broader strategy to enhance collaboration with the industrial sector, support research and development, and build a resilient, innovation-driven healthcare ecosystem. The initiative also reinforces the UAE’s ambition to position itself as a leading regional hub for pharmaceuticals and healthcare.

The General Authority of Islamic Affairs, Endowments and Zakat said Eid Al Fitr prayers this year will be held only inside mosques across the country to ensure the safety and security of worshippers.

The move means worshippers will pray in designated mosques nationwide, rather than at traditional outdoor prayer grounds.

Eid prayers: UAE authority urges people to adhere to guidelines

The authority that oversees mosque operations across most of the UAE issues guidance on prayer arrangements and religious practices.

The authority has asked people to adhere to guidelines and arrive early to perform prayers in mosques to ensure their safety.

Read: Eid Al Fitr 2026 holidays for public and private sector employees

Tesla has announced that it is temporarily offering free supercharging at its network of charging stations across the UAE and select GCC markets, in a move aimed at supporting electric vehicle (EV) users across the region.

The announcement was made via the company’s official Tesla Charging account on X, confirming that customers can access its Supercharger network at no cost for a limited period.

The initiative applies to multiple locations across the UAE, Saudi Arabia and Qatar, with the UAE accounting for the largest share of participating stations. These include key urban hubs such as Dubai, Abu Dhabi and Sharjah, as well as intercity and highway locations.

Ajman became the latest emirate to confirm Eid Al-Fitr holidays, announcing that government employees will observe a four-day break from Thursday, March 19, to Sunday, March 22, with work resuming on Monday, March 23, a WAM report said.

The move follows an announcement made on March 12 by the Dubai Government Human Resources Department, which confirmed the same holiday period for all government entities, with exceptions for shift-based roles.

Sharjah had issued its decision even earlier, on February 23, when the Sharjah Department of Human Resources confirmed identical Eid Al-Fitr holiday dates for government departments and institutions.

Unified celebrations across the UAE

Across Ajman, Dubai and Sharjah, authorities extended congratulations to the UAE leadership, citizens and residents, as well as to Arab and Islamic nations worldwide.

Officials expressed hopes that the occasion would return with “goodness, prosperity and blessings for all,” reflecting the spirit of unity that defines Eid celebrations in the country.

With all three emirates aligning their holiday schedules, UAE residents can look forward to a synchronised long weekend marking the end of Ramadan and the beginning of Eid festivities.