UAE central bank extends Targeted Economic Support Scheme through June

UAE central bank extends Targeted Economic Support Scheme through June

The United Arab Emirates’ central bank has extended several measures of its Targeted Economic Support Scheme (TESS) until June 30 to support the continued recovery of the country’s economy, the bank said on Saturday.

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It said in a statement it was extending the TESS programme to support new lending and financing, as well as prudential relief measures regarding banks’ capital buffers and liquidity and stable funding requirements.

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