DUBAI: The central bank of the United Arab Emirates, home to the skyscraper-studded city of Dubai, on Sunday announced a $27 billion stimulus package to deal with the economic effects of the coronavirus pandemic.
The money will go toward supporting the country’s banks, and regulatory limits on loans will be eased.
Nations across the Middle East have pledged to stimulate their economies as they weather the global pandemic, which has led to widespread school closures, the cancelation of sporting and other events, as well as sweeping lockdowns in some hard-hit areas.
For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.
Most people suffer only mild to moderate symptoms and recover in a matter of weeks. But the virus is highly contagious and can be spread by individuals with no visible symptoms.
The virus has spread to more than 100 countries and infected more than 150,000 people worldwide and killed more than 5,700. Iran is home to the biggest outbreak in the Middle East, with nearly 13,000 cases and more than 600 deaths.
More than 70,000 people worldwide have recovered after being infected.
Countries across the Middle East have imposed sweeping travel restrictions, canceled public events and in some cases called on non-essential businesses to close for the coming weeks.
Dubai Parks & Resorts announced it would be closed through the end of the month.
Abu Dhabi shut down its amusement parks and museums through the end of the month, including Louvre Abu Dhabi.
Kuwait meanwhile shut down malls, salons and barbershops to slow the spread of the virus. Authorities allowed coffee shops to remain open, but said no more than five customers can wait in line at a time and must be a meter apart from each other.
Saudi Arabia separately announced its own $13 billion stimulus plan.
![]()
UAE pledges $27bn in stimulus as Middle East works to slow coronavirus
Short Url
https://arab.news/68tyk
UAE pledges $27bn in stimulus as Middle East works to slow coronavirus
- The money will go toward supporting the country’s banks and regulatory limits on loans will be eased
- Abu Dhabi shut down its amusement parks and museums through the end of the month, including Louvre Abu Dhabi.
How succession works in Iran and who will be the country’s next supreme leader?
DUBAI: The death of Iran’s Supreme Leader Ayatollah Ali Khamenei after almost 37 years in power raises paramount questions about the country’s future. The contours of a complex succession process began to take shape the morning after Khamenei’s assassination.
Here is what to know:
A temporary leadership council assumes duties
As outlined in its constitution, Iran on Sunday formed a council to assume leadership duties and govern the country.
The council is made up of Iran’s sitting president, the head of the country’s judiciary and a member of the Guardian Council chosen by Iran’s Expediency Council, which advises the supreme leader and settles disputes with parliament.
Iran’s reformist President Masoud Pezeshkian and hard-line judiciary chief Gholamhossein Mohseni Ejei are its members who will step in and “temporarily assume all the duties of leadership.”
A panel of clerics selects a new supreme leader
Though the leadership council will govern in the interim, an 88-member panel called the Assembly of Experts “must, as soon as possible” pick a new supreme leader under Iranian law.
The panel consists entirely of Shiite clerics who are popularly elected every eight years and whose candidacies are approved by the Guardian Council, Iran’s constitutional watchdog. That body is known for disqualifying candidates in various elections in Iran and the Assembly of Experts is no different. The Guardian Council barred former Iranian President Hassan Rouhani, a relative moderate whose administration struck the 2015 nuclear deal with world powers, from election for the Assembly of Experts in March 2024.
Khamenei’s son could be a possible contender
Clerical deliberations about succession and machinations over it take place far from the public eye, making it hard to gauge who may be a top contender.
Previously, it was thought Khamenei’s protégé, hard-line President Ebrahim Raisi, may try to take the mantle. However, he was killed in a May 2024 helicopter crash. That has left one of Khamenei’s sons, Mojtaba, a 56-year-old Shiite cleric, as a potential candidate, though he has never held government office. But a father-to-son transfer in the case of a supreme leader could spark anger, not only among Iranians already critical of clerical rule, but also among supporters of the system. Some may see it as un-Islamic and in line with creating a new, religious dynasty after the 1979 collapse of the US-backed Shah Mohammad Reza Pahlavi’s government.
A transition like this has happened only once before
There has been only one other transfer of power in the office of supreme leader of Iran, the paramount decision-maker since the country’s 1979 Islamic Revolution.
In 1989, Grand Ayatollah Ruhollah Khomeini died at age 86 after being the figurehead of the revolution and leading Iran through its bloody eight-year war with Iraq. This transition now comes after Israel launched a 12-day war against Iran in June 2025 as well.
The vast powers of a supreme leader
The supreme leader is at the heart of Iran’s complex power-sharing Shiite theocracy and has final say over all matters of state.
He also serves as the commander-in-chief of the country’s military and the powerful Revolutionary Guard, a paramilitary force that the United States designated a terrorist organization in 2019 and which Khamenei empowered during his rule. The Guard, which has led the self-described “Axis of Resistance,” a series of militant groups and allies across the Middle East meant to counter the US and Israel, also has extensive wealth and holdings in Iran.
Here is what to know:
A temporary leadership council assumes duties
As outlined in its constitution, Iran on Sunday formed a council to assume leadership duties and govern the country.
The council is made up of Iran’s sitting president, the head of the country’s judiciary and a member of the Guardian Council chosen by Iran’s Expediency Council, which advises the supreme leader and settles disputes with parliament.
Iran’s reformist President Masoud Pezeshkian and hard-line judiciary chief Gholamhossein Mohseni Ejei are its members who will step in and “temporarily assume all the duties of leadership.”
A panel of clerics selects a new supreme leader
Though the leadership council will govern in the interim, an 88-member panel called the Assembly of Experts “must, as soon as possible” pick a new supreme leader under Iranian law.
The panel consists entirely of Shiite clerics who are popularly elected every eight years and whose candidacies are approved by the Guardian Council, Iran’s constitutional watchdog. That body is known for disqualifying candidates in various elections in Iran and the Assembly of Experts is no different. The Guardian Council barred former Iranian President Hassan Rouhani, a relative moderate whose administration struck the 2015 nuclear deal with world powers, from election for the Assembly of Experts in March 2024.
Khamenei’s son could be a possible contender
Clerical deliberations about succession and machinations over it take place far from the public eye, making it hard to gauge who may be a top contender.
Previously, it was thought Khamenei’s protégé, hard-line President Ebrahim Raisi, may try to take the mantle. However, he was killed in a May 2024 helicopter crash. That has left one of Khamenei’s sons, Mojtaba, a 56-year-old Shiite cleric, as a potential candidate, though he has never held government office. But a father-to-son transfer in the case of a supreme leader could spark anger, not only among Iranians already critical of clerical rule, but also among supporters of the system. Some may see it as un-Islamic and in line with creating a new, religious dynasty after the 1979 collapse of the US-backed Shah Mohammad Reza Pahlavi’s government.
A transition like this has happened only once before
There has been only one other transfer of power in the office of supreme leader of Iran, the paramount decision-maker since the country’s 1979 Islamic Revolution.
In 1989, Grand Ayatollah Ruhollah Khomeini died at age 86 after being the figurehead of the revolution and leading Iran through its bloody eight-year war with Iraq. This transition now comes after Israel launched a 12-day war against Iran in June 2025 as well.
The vast powers of a supreme leader
The supreme leader is at the heart of Iran’s complex power-sharing Shiite theocracy and has final say over all matters of state.
He also serves as the commander-in-chief of the country’s military and the powerful Revolutionary Guard, a paramilitary force that the United States designated a terrorist organization in 2019 and which Khamenei empowered during his rule. The Guard, which has led the self-described “Axis of Resistance,” a series of militant groups and allies across the Middle East meant to counter the US and Israel, also has extensive wealth and holdings in Iran.
Latest updates
© 2026 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement.