The emergency financial support package introduced by the Central Bank of the UAE has reached nearly $2 billion in assistance since its launch earlier this year in response to regional tensions linked to the Iran conflict.
According to recent figures, loan repayment deferrals under the program have climbed to AED6.2 billion (approximately $1.7 billion). The support initiative was introduced in March to help businesses and individuals manage financial pressure during the uncertain economic situation.
More than 60,000 individuals, around 4,300 small and medium-sized enterprises (SMEs), and nearly 500 corporate businesses have benefited from the package so far.
Among the sectors receiving the highest level of support, transportation was the most affected and received the largest share of assistance. Hospitality and entertainment businesses also benefited significantly from the relief measures.
The package allows borrowers to delay loan repayments for up to six months without being classified as loan defaulters. It also includes the temporary suspension of interest charges and fees on affected financial facilities. In addition, banks are encouraged to continue providing financing support to priority sectors of the economy.
Officials confirmed that there is no minimum loan amount required to qualify for the support measures, making the program accessible to a wider range of individuals and businesses.
Despite regional challenges, the UAE banking sector has continued to show steady growth. Data from the central bank revealed that banking assets increased by 2.1% between March and May, while loans and deposits also recorded healthy growth during the same period.
The monetary base cover ratio reportedly reached 115.3%, reflecting strong financial stability within the country’s banking system.
Earlier this year, Mansour bin Zayed Al Nahyan stated that the UAE’s proactive financial policies and precautionary measures have played an important role in strengthening the resilience of the banking sector and maintaining overall monetary stability.
The latest figures highlight the UAE’s continued efforts to support businesses, protect financial stability, and maintain confidence in the economy during periods of regional uncertainty.
Source: International finance and regional reports
