BRIEF-UAE banks to ease pressure on customers hit by virus -WAM news agency

State news agency WAM:

* UAE'S EMIRATES NBD, DUBAI ISLAMIC, EMIRATES ISLAMIC BANK, MASHREQBANK AND COMMERCIAL BANK OF DUBAI TAKE MEASURES TO EASE ECONOMIC PRESSURES ON CUSTOMERS DUE TO CORONAVIRUS FROM APRIL 1 TO JUNE 30 * PRIORITY IN GRANTING SUPPORT MEASURES FOR MAIN SECTORS THAT CONTRIBUTE TO STATE ECONOMY, INCLUDING HEALTHCARE, AVIATION, HOSPITALITY, RETAIL, EVENT MANAGEMENT, CONSUMER GOODS AND EDUCATION

* MEASURES FOR THE ABOVE SECTORS INCLUDE OPTION TO RESCHEDULE LOANS, DELAYING LOANS, OR REDUCING LOAN INSTALLMENTS IF NEEDED * BANKS REDUCE MINIMUM REQUIRED BALANCE FOR BUSINESSES TO 10,000 DIRHAMS

* MEASURES ALSO INCLUDE GRANTING GRACE PERIOD OF UP TO THREE MONTHS TO CUSTOMERS WHO OBTAINED RETAIL LOANS AND WERE PLACED ON UNPAID LEAVE * OTHER MEASURES INCLUDE SCRAPPING OR REDUCING FEES, INCLUDING SOME REAL ESTATE AND FOREIGN EXCHANGE FEES

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