- On 26/03/2020
As part of its commitment to promote the national economy, and in line with the UAE government’s directives to support clients and ease the impacts and financial challenges caused by the spread of the novel coronavirus (COVID-19), the management of Al Masraf (Arab Bank for Investment & Foreign Trade) has announced that mortgage, personal loan and car loan payments will be postponed for a period of one to three months for clients directly affected by the spread of COVID-19 between April 1st and June 30th 2020.
Stemming from its desire to support its clients and minimize the impact on small enterprises, Al Masraf will take all necessary measures and procedures related to the daily transactions of its various clients in order to measure the impact of the novel coronavirus on their cash flows, by rescheduling or postponing their loan payments. No fees will be imposed on postponed loan payments.
Al Masraf will continue to serve its clients through its branches and channels, provided that no contrary instructions are issued by the competent authorities. In order to ensure the safety and health of its staff and clients, Al Masraf has taken a number of precautionary measures. However, we strongly advise our clients not to visit our branches unless absolutely necessary and to instead use our digital channels and customer service hotlines to carry out their transactions.