ABU DHABI, (Pakistan Point News - 11th Mar, 2021) The UAE banks provided AED6.4 bn in retail loans for residents during Q4 of 2020, according to statistics issued by the Central Bank of the UAE.
Supporting micro, small, and medium-sized enterprises is a priority of the Federal government, as part of its policy to diversify the national economy and generate employment opportunities, with the cumulative balance of retail loans amounting to AED104.7 bn by the end of December, 2020, a growth of 6.5 percent from September same year, Retail loans accounted for 6.6 percent of the cumulative balance of the credit facilities provided by the UAE banks to all business activities undertaken by the UAE residents by the end of December.
