Image credit: WAM
The Central Bank of the UAE (CBUAE) has urged banks and insurance companies to allow customers affected by severe weather conditions to defer personal and car loan repayments for six months.
The apex lender said banks will not impose additional fees, interest or profits for loan repayment deferrals.
CBUAE clarified that the damages to vehicles and homes as a result of the heavy rains that lashed the country last week are covered by insurance “if there is an insurance…
