Bloomberg India will subsidise interest costs for small borrowers who had availed of a six-month loan repayment holiday to survive as the pandemic devastated cash flows, according to court documents seen by Bloomberg. Prime Minister Narendra Modi’s government will pay the “interest on interest” on loans of as much as 20 million rupees ($273,000) for the duration of the Reserve ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) on Saturday signed a Memorandum of Understanding with the Dubai Islamic Economy Development Centre (DIEDC) to reinforce and expand the reach of the Islamic banking sector, and to advance cooperation in areas of mutual interest. Saif Hadef Al Shamsi, Deputy Governor of the central bank of the UAE, and ...

DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has directed changes to be made to the travel protocols for passengers arriving or departing from Dubai. The revisions to the protocols aim to ease hassles for passengers and exempt citizens from additional procedures ...