#TESS

UAE says it is winding down pandemic stimulus as economy recovers

The loan deferral component of the Targeted Economic Support Scheme will expire by the end of 2021

Central Bank of the UAE

UAE banks return Dhs14.47bn received from Central Bank’s TESS initiative

A Dhs100bn Targeted Economic Support Scheme initiative was launched by the CBUAE in March 2020

UAE’s non-oil GDP to grow 3.6% by end 2021

The UAE has rolled out economic support packages worth more than Dh388bn to mitigate the impact of the pandemic

UAE Central Bank withdraws Dhs10.9bn in excess liquidity during August

This move came after the central bank met the market needs for liquidity over the previous months

UAE Central Bank ramps up TESS scheme to support banking sector

The directive will encourage banks to strengthen the TESS scheme and support customers in overcoming the impact of the pandemic

UAE Central Bank’s TESS liquidity scheme availed by 26 banks

More than 140,000 eligible customers have already benefited from the TESS liquidity facility

Abu dhabi uae capital flag

UAE Central Bank projects economic recovery in second half of 2020

Non-oil growth is projected to contract by 4.1 per cent in 2020 due to the adverse implications of Covid-19