March 4, 2020 / 12:47 PM / a month ago

Emirates NBD cuts transaction tariffs amid coronavirus concerns

DUBAI, March 4 (Reuters) - Dubai’s largest bank Emirates NBD is cutting transaction tariffs over the next three months to help support businesses in the United Arab Emirates (UAE) affected by the coronavirus outbreak, it said on Wednesday.

The bank said the move by its transaction banking unit, which it said “will help alleviate pressure by reducing operational costs”, is in line with government and central bank initiatives.

The UAE central bank last week advised banks to reschedule loans and reduce fees and commissions to help mitigate the economic effects of the coronavirus outbreak. (Reporting by Davide Barbuscia; Editing by Jan Harvey)

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