Liquidity of UAE banking system back to pre-Covid-19 levels, UAE Central Bank says
- Date: 15-Mar-2021
- Source: The National News
- Sector:Financial Services
- Country:UAE
Liquidity of UAE banking system back to pre-Covid-19 levels, UAE Central Bank says
Liquidity in the UAE's banking system has returned to pre-Covid-19 levels as the country's economy continues to recover from the pandemic, the Central Bank of the UAE said on Monday.
Banks have now substantially reduced their use of the Targeted Economic Support Scheme, the Dh50bn zero cost funding facility set up a year ago to help lenders maintain funding flows through the economy, the regulator said.
The Tess programme “has yielded positive impact for the UAE's banking sector and the wider economy”, Abdulhamid Alahmadi, governor of the Central Bank of the UAE, said.
“The introduction of the stimulus package came at a critical
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