UAE24x7
  • UAE
  • News
  • Entertainment
  • Sports
  • Business
  • Lifestyle
  • Food & Drink
  • Expo 2021
No Result
View All Result
  • UAE
  • News
  • Entertainment
  • Sports
  • Business
  • Lifestyle
  • Food & Drink
  • Expo 2021
No Result
View All Result
UAE24x7
No Result
View All Result
Home Around UAE Abu Dhabi

27 billion dirhams of credit facilities for the transport, storage, and communication sectors within 6 months

Safa Shamsudeen by Safa Shamsudeen
September 21, 2020
in Abu Dhabi
0
27 billion dirhams of credit facilities for the transport, storage, and communication sectors within 6 months
Share on FacebookShare on Twitter

The transport, logistics, warehousing, and communications sectors have formed the backbone for sustaining the work of all economic support activities in the UAE during the past months, which made it one of the banking system’s concerns in terms of the value of the financial facilities obtained during the first half of 2020 Which amounted to nearly 27 billion dirhams.

Statistics issued by the UAE Central Bank show that the cumulative balance of financial facilities provided to these sectors amounted to 84 billion dirhams at the end of June of this year compared to 57 billion dirhams in December 2019.

The index of the balance of financial facilities granted to the sector maintained an upward trend in the first quarter of the year, reaching 63.27 billion dirhams, according to the same Central Bank statistics.

Fahad Al-Qassem, a member of the board of directors of Aramex, one of the most important national companies operating in the business of freight, express transportation, logistics and supply services said: “The transport and logistics sector has been the main engine for economic growth in the UAE over the past years, and with the circumstances imposed by the Covid-19 epidemic during the past months. The sector has played an important role in sustaining the wheel of activity in all economic and commercial sectors in the country.

Al-Qassem added, “Based on the important role that the sector plays in supporting economic activities, it is not surprising that it is among the most important sectors of the banking system in the UAE in terms of the value of the financial facilities granted to it during the first half of this year, stressing that the financial facilities What the sector obtains will contribute to increasing its activity during the coming period, in a way that serves the national economy. “

It is noteworthy that the total output of these sectors amounted to about 127.7 billion dirhams during the year 2019, which constitutes approximately 12.3% of the non-oil GDP of the UAE at constant prices, according to the statistics issued by the Federal Competitiveness and Statistics Authority

  • Trending
  • Comments
  • Latest
How to check UAE visa status & validity using only passport

How to check UAE visa status & validity using only passport

September 10, 2021
The most important advice that every tourist should take into account when visiting Dubai

The most important advice that every tourist should take into account when visiting Dubai

July 25, 2020
Procedures for Renewing the Driving License in Abu Dhabi [3 Simple Steps]

Procedures for Renewing the Driving License in Abu Dhabi [3 Simple Steps]

September 21, 2021
how to transfer credit from Etisalat to du and visa versa in UAE [Under 1 Minute]

how to transfer credit from Etisalat to du and visa versa in UAE [Under 1 Minute]

September 14, 2021
Is classroom education a distant dream now?

Is classroom education a distant dream now?

0
Is classroom education a distant dream now?

Asia’s Biggest Book Market Damaged Beyond Belief!

0

Is earth’s magnetic field weakening creating another nightmare on planet earth?

0

UK’s new twin Nuclear Power Plant is catastrophic: Environmentalists

0
big ticket UAE

Big ticket UAE: A man from Kerala won Rs 20 Crores

December 6, 2021
UAE new criminal law 2022

UAE: New criminal law 2022 will take the effect next year

December 5, 2021
best Sushi restaurants in Dubai

Best Sushi restaurants in Dubai: Sushiholic!

December 5, 2021
UAE national day celebration 2021

UAE national day 2021 celebrations: All about yesterday

December 3, 2021
UAE24x7

Menus

  • UAE
  • News
  • Entertainment
  • Sports
  • Business
  • Lifestyle
  • Food & Drink
  • Expo 2021

Recent News

big ticket UAE

Big ticket UAE: A man from Kerala won Rs 20 Crores

December 6, 2021
UAE new criminal law 2022

UAE: New criminal law 2022 will take the effect next year

December 5, 2021
No Result
View All Result
  • UAE
  • News
  • Entertainment
  • Sports
  • Business
  • Lifestyle
  • Food & Drink
  • Expo 2021

© 2021 UAE24X7