UAE: Banks Prepared To Assist People And Companies Affected By Historic Rainfall

Abdulaziz Al-Ghurair, the chairman of the UAE Banks Federation, stated in a press conference on Tuesday that banks in the UAE are prepared to collaborate with clients and offer a “lifeline” to individuals who were affected by the extraordinary rains last month.

“For individuals, banks are ready to collaborate with clients for legitimate needs, whether it’s personal loans, auto financing, or mortgages. At a press conference, he stated, “It might also be certain businesses whose operations have been harmed and, regrettably, they do not have insurance.

He went on to say that because banks are a vital component of the economy, they will help and act as a “lifeline” to help people and businesses recover.

Since we are a part of the economy, it is in our best interest to help and support these customers when they are struggling. They must speak with banks as well. People should seize the chance to benefit from it. If the victims are sincere and can provide evidence, our goal is to collaborate with them in small or large businesses.”

“Banks were put to the test during the COVID-19 period, and they have demonstrated maturity for this. During the press briefing, Al-Ghurair stated, “Banks rescheduled loans when there was a legitimate reason because there was just no income for some firms.”