Tiny Iran war relief v huge Covid aid reflects limited economic impact, says Al Ghurair | The National

May 13, 2026

The Dh6.2 billion ($1.69 billion) relief for bank customers in the UAE is nothing compared to the Dh200 billion in assistance the UAE Central Bank extended during the Covid pandemic, reflecting the far smaller impact of the current crisis on the country's economy, the UAE Banks Federation chairman Abdul Aziz Al Ghurair has said.

The total number of 65,000-plus customers who sought assistance due to the impact of the Iran war since the beginning of March also pales in comparison with the number of entities in the UAE that were affected by the pandemic-driven economic slowdown, Mr Al Ghurair said during a media briefing on Wednesday.

“During Covid time, the relief went to 1.5 million entities, and now it's 65,000 – it’s nothing, it's meaningless. It's no relief for the size [of the economy],” he said. “And during Covid, relief was Dh200 billion. Now that's huge. The current [figure, Dh6.2 billion] is just 3 per cent.”

CommentThe Iran war did not create the UAE's industrial push but accelerated it