The UAE Central Bank encourages banks, financial institutions and exchange houses to prioritise remote working, except for 30 per cent of those working in critical positions that require to work from the office, the regulator said on Friday.
“The Central Bank pays great attention to the health and safety of the workforce of banking and financial sector and the importance of providing safe and effective working environment,” Governor Mubarak Al Mansoori said.
“We were one of the first sectors that implemented remote working system effectively within the banks’ business continuity plan and adopted procedures and technologies that ensured swift and efficient operations.”
Banks and exchange houses are entitled to take the decision in relation to reducing working hours and temporary closure of some of their branches as long as the services offered to customers are not interrupted, effective from March 29, for two weeks extendable.
UAE Banks Federation chairman Abdulaziz Al Ghurair said: "Banking sector is well positioned to ensure the continuity of operations and fulfill all customers’ requirements through electronic and digital channels.”
“We will continue working with the Central Bank of the UAE and our member banks to promote a safe and stable environment,” he added.
The remote working system prioritises certain categories including pregnant women, staff with duties that do not necessitate physical presence at workplace, people of determination and employees with respiratory problems and weak immune system.
There are now more than 536,000 confirmed cases of the virus around the world and more than 24,000 deaths, the latest numbers compiled by the Johns Hopkins University global dashboard show. More than 122,000 have recovered.
The UAE, which has to date confirmed 333 cases of the virus and two deaths, has cancelled events and imposed travel restrictions.
On March 14 the central bank rolled out a Dh100 billion economic stimulus package to offset the impact of the coronavirus outbreak by helping ease debt concerns for borrowers, boosting the property sector and providing support to small and medium businesses.
One of the latest central bank circular suggests important tips for customers to follow to take advantage of digital banking. These include: signing up to online banking and the mobile app; knowing log-on details; and using contactless or mobile payments to avoid touching a payment terminal or exchanging cash at shops.
The regulator also cautioned consumers to “stay alert” as fraudsters may try to take advantage of the current situation. “Make sure you’re on the lookout for anything suspicious, including messages about coronavirus claiming to be from your bank,” the circular said.
