Abu Dhabi banks announce support packages for customers and businesses

New moves to support individuals and companies

Abu Dhabi banks announce support packages for customers and businesses

The biggest banks in Abu Dhabi have announced new support measures to help individuals and businesses affected by the coronavirus.

First Abu Dhabi Bank, ADCB and ADIB, in coordination with Abu Dhabi Department of Finance and Abu Dhabi Department of Economic Development, have announced a total of 17 financial initiatives.

Support measures for individuals impacted by the coronavirus include deferring of instalments on existing loans, halting foreclosures on mortgages, halting the suspension of bank accounts, refunds on credit card processing fees and instalment programmes to help with bill payments.

In addition, the banks are also offering reduced interest charges, reduced bank charges, a reduction in down payments and interest free instalment plans for school fees.

Businesses have been offered deferred instalments, reduced bank merchant service fees, reduced banking fees and charges, reduced interest charges and more.

Terms and conditions do apply and cases will be judged on a case by case basis.

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