UPDATE 1-UAE banks ease pressure on core industries as social restrictions tighten - Reuters:
Banks in the United Arab Emirates announced a raft of measures on Saturday they said would benefit the biggest contributors to the economy as the country announced its first deaths linked to the coronavirus pandemic.
Aviation, hospitality, healthcare, retail, event management, consumer goods and education would be prioritised by the banks, which will reschedule or delay loan payments, reduce instalments and cut or reduce fees, state news agency WAM reported.
Dubai’s largest bank Emirates NBD, Dubai Islamic , Emirates Islamic and Commercial Bank of Dubai, all state-linked, will introduce the measures from April 1 to June 30, WAM reported.
Mashreq is also taking part and Abu Dhabi Islamic Bank (ADIB) announced similar measures earlier on Saturday.
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