UAE central bank extends $13.6 bln stimulus measure until end of the year

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The United Arab Emirates central bank decided to extend until the end of this year a 50 billion dirhams ($13.6 billion) facility introduced to help banks and financial companies, state news agency WAM said on Wednesday.

The “zero cost funding support facility” was one of a series of stimulus measures introduced last year by the UAE central bank to contain the impact of the coronavirus crisis on the economy.

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Eralier, UAE'S President Sheikh Khalifa bin Zayed appointed Khalid al-Tameemi as governor of the UAE’s central bank, state news agency WAM said.

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