UAE banks lend $5.36bn to non-resident clients

UAE’s loan growth and liquidity picking up pace is reflective of the country's robust financial profile. (File/AFP)
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Updated 23 January 2021
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UAE banks lend $5.36bn to non-resident clients

Credit facilities provided by UAE national banks to non-resident clients rose by AED19.7 billion ($5.36 billion) from January to November 2020, statistics by the Central Bank of the United Arab Emirates have shown.

The growth brings to AED149 bn the cumulative balance of bank loans to non-residents, which accounts for 8.3 percent of the total loans provided by UAE banks in the reference period- estimated at AED1.795 trillion, according to the apex bank's figures.

UAE’s loan growth and liquidity picking up pace is reflective of the country's robust financial profile despite the global economic slowdown triggered by the COVID-19 pandemic.


Major airlines suspend, reroute flights amid US-Israel strikes on Iran

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Major airlines suspend, reroute flights amid US-Israel strikes on Iran

  • Saudia says decision taken in line with aviation safety and security standards
  • Emirates says regional airspace closures cause disruption to several of its flights

RIYADH: Major international airlines across the Middle East and South Asia have suspended, canceled or rerouted flights following ongoing US-Israel attacks on Iran and the resulting airspace closures, according to official statements issued via X.

Saudia said in an official statement that it had canceled a number of flights due to developments in the region and the closure of airspace. The airline said the decision was taken in line with aviation safety and security standards, noting that its Emergency Coordination Center is closely monitoring developments with relevant authorities. Saudia urged passengers to verify the status of their flights before heading to the airport and said guests would be notified of updates through the contact details associated with their bookings. The carrier added that further information would be announced in a subsequent statement if available.
 


Air Arabia said its flights were experiencing cancellations, delays or rerouting as a result of the evolving situation and airspace closures. The airline advised passengers to check the status of their flights before traveling to the airport by visiting its website or contacting its call center. Customers booked on affected flights will be notified directly, the airline said, adding that further updates would be provided as the situation develops.

Air India announced a broader suspension, stating that “in view of the developing situation in parts of the Middle East, all Air India flights to all destinations in the Middle East have been suspended.” The airline said it remains committed to maintaining the highest standards of safety for passengers and crew and will continue to assess the safety and security environment for flight operations, adjusting services proactively as required. Air India said its teams would extend necessary support to passengers and advised customers to check flight status online or contact its 24/7 call center for assistance.
 


Dubai-based Emirates reported that regional airspace closures had caused disruption to several of its flights. The airline said it is actively monitoring the situation, engaging with relevant authorities and adjusting operations in line with the latest developments. Emirates said it adheres to all regulatory requirements and follows guidance issued by aviation authorities. The carrier apologized to affected customers and said it is assisting them with rebooking, refunds or alternative travel arrangements, reiterating that the safety and security of passengers and crew remain its highest priority.
 


Qatar Airways confirmed a temporary suspension of flights to and from Doha due to the closure of Qatari airspace. The airline said it is working closely with government stakeholders and relevant authorities to support impacted passengers and will resume operations once the airspace reopens. It warned that delays are anticipated when usual operations resume and said additional ground staff have been deployed at Hamad International Airport and other key airports to assist passengers.
 


Meanwhile, Al Jazeera reported that British Airways had canceled flights to Tel Aviv and Bahrain, adding to the list of carriers adjusting operations.

Across their statements, airlines consistently cited airspace closures and safety considerations as the primary reasons for suspensions and disruptions, while urging passengers to monitor official channels for updates as the situation continues to evolve.