When asked what constitutes being “affected” by Covid-19, Mr Sharma said: “It could be anything. On a global level, the Citi Foundation said on March 19 it will provide $15 million (Dh55m) to support relief activities related to Covid-19. The DESS and DESC Board of Trustees and myself felt that we needed to adapt our pricing structure accordingly and that any 're-set' needed to be a permanent one, based on the fact that the economic consequences of Covid-19 will likely be felt for several years and possibly beyond.”, Although DESC and DESS are unique in offering permanent, rather than temporary, relief in fees to parents going forward, Gibbs is clear that the move is not one that all schools can or should be expected to do. ... Any COVID-19-specific payment relief must be requested either through the online portal or by phone. In addition to Foundation support, Citi will directly match donations up to $2 million from the general public to No Kid Hungry. Citiâs underwriting teams are executing transactions in the capital markets, advisory teams are providing financing and Citi is creating new receivables services for clients to improve supply chain transparency, and doing critical operations work on passports. Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. The measures, as well as the criteria for customers to qualify, vary. Retail Bank: Fee waivers on monthly service fees; waived penalties for early CD withdrawal. Read our full disclaimer policy here. “In total, a customer can get a temporary relief of six months or he/she can get permanent relief on a restructure in case the difficult situation is permanent,” Mr Sharma says. Foundation funding will include support to scale No Kid Hungryâs work to provide emergency grants, divert resources to help the hardest-hit communities and make sure families know how to find meals while schools are closed. The rewrite and payment holiday programmes are applied on a case-by-case basis, while the free transfers, temporary waiver of ATM charges and removal of Citi PayAll fee are for all customers. HSBC has released “Covid-19 guidance and FAQs” on its UAE website. Retail Bank: Fee waivers on monthly service fees; waived penalties for early CD withdrawal. Image used for illustrative purpose. “In addition to these relief measures, we have frozen fees for the past three years in the majority of our schools and implemented further fee reductions in a number of our schools to help retain and recruit new students. Citiâs underwriting teams are executing transactions in the capital markets, advisory teams are providing financing and Citi is creating new receivables services for clients to improve supply chain transparency, and doing critical operations work on passports. Both on your website and other media. The COVID-19 Solidarity Response Fund was established by the UN Foundation and the Swiss Philanthropy Foundation at the request of the World Health Organization. The Central Bank of the United Arab Emirates (CBUAE) has introduced the AED 100 billion Targeted Economic Support Scheme (TESS), which came into effect on 15 March 2020. All credit cards are not equal. In addition to these philanthropic efforts, Citi is offering assistance to impacted customers in the U.S. through a range of measures, including fee waivers for Citibank customers, hardship programs, and additional small business support, such as extended banker availability. Payment relief decisions are not made in the local branches. $5 million will be directed to the COVID-19 Solidarity Response Fund. All credit cards are not equal. Committed $10 million in the U.S. to make financial counseling and supportive services available to small business owners and families experiencing financial hardship through community-based organizations, including Womenâs Housing and Development Corporation in New York, Los Angeles Chamber of Commerce and So Others Might Eat in Washington, D.C. Citiâs COVID-19 Community Relief Efforts Reach Over $65 Million Globally, Digital leapfrogging: an opportunity for MENA. Visit www.nokidhungry.org/citi or text CITI to 877-877 to donate today. A Scottish mother-of-three in Abu Dhabi said, “We are happy with my children’s British curriculum school, but the fees have always been steep. Donations made between January 1 and May 31, 2020 are eligible, and Citi will be donating up to $500,000 to each organization.Citiâs work to actively support COVID-19 relief efforts include global, regional and localized efforts in specific countries, including: In addition, Citi continues to take proactive measures to preserve the well-being of employees globally, including special compensation awards to 75,000 colleagues to help ease the financial burden of this situation. Targeted Economic Support Scheme also helped 10,000 SMES, more than 1,500 private corporates. Citi Commercial Bank provides the highest quality financial advice, helping business like yours prosper and grow in domestic markets, as well as internationally. The information in this website does not constitute investment advice or an offer to invest or to provide management services and is subject to amendment without notice.