Some residents' installments for loans deferred in Abu Dhabi

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Residents in Abu Dhabi who are affected by COVID-19 will have installments for existing loans deferred until June 30 this year.

This is just one of the 17 initiatives launched by banks in the capital, who will also refund credit card processing fees and will remove service charges on utility bill payments for those who’ve been impacted by the coronavirus.

The general public will also benefit from the programme, which will provide them with a 50 per cent discount on all interest charges related to loans and credit cards.

The financial initiatives, which are in coordination with the Abu Dhabi Department of Finance and the Department of Economic Development, will also help SMEs.

Those affected by COVID-19 will have their minimum average balance requirements reduced to up to AED10,000 per month for all SME account categories.

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تماشياً مع توجيهات محمد بن زايد، أعلنت بنوك أبوظبي الرائدة – بنك أبوظبي الأول ومصرف أبوظبي الإسلامي وبنك أبوظبي التجاري – بالتعاون مع دائرة المالية ودائرة التنمية الاقتصادية أبوظبي عن إطلاق حزمة شاملة من المبادرات لدعم مجتمع #أبوظبي وقطاع الأعمال خلال هذه الفترة من عدم اليقين الاقتصادي⁣ ⁣ وبموجب التعاون صُممت 17 مبادرة مالية لتلبية الاحتياجات الحالية للأفراد والشركات الصغيرة والمتوسطة في #أبوظبي من خلال خفض التكاليف وتسهيل الوصول إلى التمويل والمحافظة على مرونة الاقتصاد المحلي⁣ ⁣ ⁣ In line with the directives of Mohamed bin Zayed, Abu Dhabi banks - @fabconnects , @adib_bank @adcb in coordination with Abu Dhabi Dept of Finance & @abudhabided unveil a comprehensive package of initiatives to support the #AbuDhabi community & businesses during this time⁣ ⁣ The 17 financial initiatives are designed to provide for the current needs of individuals and SMEs in #AbuDhabi, reducing costs, facilitating ease of access to financing and maintaining the resilience of the local economy

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