A supportive government is what keeping all of us intact and ongoing during this global pandemic. A significant example of this statement is a recent order issued by the Central Bank of UAE by introducing AED 100 billion as a Targeted Economic Support Scheme, hereinafter referred to as the Scheme.
The Central Bank under Scheme has clarified that the half of the raised amount will be utilized for collateralized loans to be issued all banks in UAE at zero cost and other half shall be utilized as a Capital buffer relief. The said order was intentionally issued for assisting residents of UAE as the banks will now relieve the corporate and individual clients who are severely impacted by the situation caused COVID-19.
Key Facilities under the Scheme
The measures presented by Central Bank give banks registered in the UAE the capacity to deferred installments anticipated from their customers that are impacted by the COVID-19 pandemic.
Relying on the statistics, more than half of the facilities offered by the Scheme has been utilized, all things considered, there will keep on being various alterations to existing business offices and rescheduling of installments, as corporates are compelled to work in problematic conditions due to COVID-19.
All our readers shall approach the Legal Consultants of Dubai in order to understand the latest updates in the rules and regulations issued by the government which are being altered on daily basis.
Copyright © of this article is retained by the author and/or other copyright owners. We explicitly grant you permission to download a copy, without any alteration, of this article for personal non-commercial research or study, without prior permission or any charge. This article can be utilized on your website or for marketing, however, we grant you permission to host this article on your website and no other rights. This content should not be altered in any way or sold commercially in any format without prior permission of the copyright holder. During reference of this article, full biographic details entailing the name of the author, his designation, the institute and the publishing date of the article shall be provided.
Your email address will not be published. Required fields are marked *
I owe the success of my case to Dr. Hassan's diligent approach. He remained focused, put me at ease and always went the extra mile. Dr. Hassan tirelessly put my case in the best possible light and I cannot thank him enough. I would highly recommend Dr. Hassan - I am grateful to him from the bottom of my heart.
Dr. Hassan Elhais is among the best legal consultants I have ever worked with. He has an amazing ability to reduce complex issues into a simple concept that non-legal people can understand. He consistently develops innovative litigation strategies that help us to achieve our ultimate legal goals.
...the extraordinary effort that has been exerted by the staff, and we specially thank Dr. Hassan Mohsen Alhais. Wishing your continues success & excellence...
I believe everyone should recognize what a difference Dr. Hassan Elhais work has made to people's lives; and especially to our family's life, because we will remain forever grateful to each and every one of his team.
Dr. Hassan Elhais never fears cases that involve exposure and he always gives me his honest assessment of our chances of success, which is invaluable to me.
He aided us not only in providing legal advice but also in all legal issues that required a long term strategic approach to achieve most favorable and optimum outcomes he provided us with high level of professional service.
Dr. Hassan Elhais is a responsible, reputable counsel who operates to high levels of service.
Dr Hassan Elhais is responsive, thorough and creative with his advice, and is a valued advisor and legal consultant.
Regardless of the complexity of the matter I know Dr. Hassan Elhais will consider not only legal strategy but also business practicalities in providing advice and litigation options.
I recommend Dr. Hassan Elhais to anyone who says 'I'm in legal trouble'. I was extremely satisfied with the high standard of his work. He has always been there when I have needed him and I refer all my clients, family and friends to him/his firm.
Dr. Hassan Elhais was very professional and he listened to my needs. He was very prompt, efficient and always kept me informed. Dr. Hassan Elhais's service was excellent and I would definitely recommend him to friends and colleagues.
Contact Me