UAE central bank extends stimulus measures until mid-2022

The United Arab Emirates central bank said on Tuesday it has extended until mid-2022 stimulus measures launched last year to mitigate the impact of the coronavirus crisis on the economy.

As part of that, banks will continue to be eligible to access a collateralised 50 billion dirhams ($13.61 billion) zero-cost liquidity facility until June 30 next year to provide loans to individuals and companies affected by the COVID-19 pandemic.

($1 = 3.6728 UAE dirham)