Dubai banks announce business relief package for customers
- Date: 23-Mar-2020
- Source: Emirates Business
- Sector:Financial Services
- Country:UAE
Dubai banks announce business relief package for customers
The measures announced by the banks seek to support the UAE Government and the UAE Central Bank six-month economic stimulus package and the Dubai Government three-month economic stimulus package to support the business sector in the UAE and Dubai.. Customers who have availed personal loans, auto loans or mortgages can apply for a one-month repayment holiday with zero fees.. -Customers who may need to cancel their travel bookings done on their credit and debit cards will receive a refund of the foreign currency transaction fees charged by the bank.. -Business Banking customers with working capital facilities who are impacted by the ongoing Covid 19 situation are encouraged to contact their respective relationship managers to achieve an optimal financial solution.. -The banks have announced support for affected customers trading in the UAE bourses by offering suitable instalment payment plans against additional collateral to help them regularise their margin trading positions.. -Margin Calls for customers trading on stock market: The two banks will work alongside and support those who are faced with margin calls on their shares portfolio.. -Commercial Banking customers with Finance facilities from the two banks and whose businesses are affected by the current situation, can contact their Relationship Manager,