Initiated in 2016 and aims at restoring market stability in view of the rising level of default by SMEs and corporate borrowers in the UAE. Developed by UBF Wholesale and SME committees as a rescue initiative for defaulted SMEs. This initiative is a loan-restructuring scheme whereby lenders work together to help firms that heavily in debt and are unable to service their dues. During implementation, the Federation has contributed as a Remedial Credit Coordinator between both lenders and borrowers.
Through UBF’s SMEs rescue initiative, the “Modus Operandi”, banks were able to put in place a total figure of AED 7 billion of outstanding loans for more than 1700 SMEs and Corporates, restructured and under negotiation to restructure