12/05 21:50
Tomorrow’s money “> Amwal Al Ghad – Amwal Al Ghad Economic Magazine
Mohamed Abbas Fayed, CEO of First Abu Dhabi Bank, said that the central bank had a proactive view of the implications of the coronavirus crisis and had put forward many initiatives.
During his speech at the CEO’s Vision Conference, he indicated that the initiative to postpone customer installments was one of the most important initiatives to protect customers from the social repercussions of the Corona crisis on individuals.
He continued that the Central Bank contributed to reducing the cost of financing by offering initiatives with low interest rates of up to 3% and 5%.
He explained that the Central Bank’s exemption of customers from withdrawal fees from machines was by offering to encourage electronic transactions and reduce dependence on cash.
He noted that the Central Bank’s initiatives were flexible and were modified more than once according to market conditions.
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