Banks to replenish ATMs with new banknotes – UAE Central Bank

The Central Bank of the UAE (CBUAE) has directed banks to refill all their ATMs with new banknotes of all denominations.

The authority has also instructed banks to ensure availability of the same during the salary payment cycle for this month.

The move is an attempt to prevent the spread of the Covid-19 infection and to ensure the health and safety of bank customers.

The CBUAE has also advised banks to immediately implement additional preventive measures regarding ATM usage, such as sanitising all ATM machines on a regular basis and providing preventive equipment including disposable latex gloves to its customers while using the machines.

This directive is the latest in a series of measures taken by the central authority to combat the spread of the pathogen. In the second week of March, the CBUAE announced that it had begun asking its employees to work remotely from home as well as re-purpose large internal and external meetings with virtual meetings.

Read: Coronavirus: UAE Central Bank asks employees to work from home

On March 14, it announced a Dhs100bn stimulus package that included Dhs50bn of zero-interest, collateralised loans for UAE-based banks and Dhs50bn funds freed up from banks’ capital buffers.

Read: UAE Central Bank announces Dhs100bn package to counter Covid-19

The Central Bank also announced that it would cut interest rates, beginning March 16, following a similar announcement by the US Federal Reserve.

Read more: UAE Central Bank cuts interest rates