Dubai banks announce business relief package for customers

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,