UAE exempts over 1,200 citizens from paying debt worth Dh401.8 million

Authorities in UAE have exempted 1277 citizens from their debts, amounting to Dh401,791,531.

This comes in implementation of the directives of the UAE President, and with the follow-up of Sheikh Mansour bin Zayed Al Nahyan, UAE Vice-President, Deputy Prime Minister and Minister of Presidential Court, to stamp out all obstacles met by Emirati citizens and ensure social welfare and economic well-being in society.

The exemption was announced by the Nationals Defaulted Debts Settlement Fund (NDDSF), in cooperation with 18 banks and financial institutions in the country.

On this occasion, Jaber Mohammed Ghanem Al Suwaidi, Minister of State and Chairman of the Supreme Committee of the NDDSF, underscored the leadership's commitment to citizens' welfare under President Sheikh Mohamed.

He also praised Sheikh Mansour's dedication to the fund, which aids various beneficiaries, including low-income individuals, retirees, and senior citizens.

Al Suwaidi commended banks and financial institutions for their role in debt settlements, contributing to societal stability and citizens' wellbeing.

The list of participants in this initiative includes 19 banks and entities, namely Abu Dhabi Commercial Bank (ADCB) Group, Al Hilal Bank, Emirates NBD, Mashreq Bank, First Abu Dhabi Bank (FAB), Abu Dhabi Islamic Bank (ADIB), Sharjah Islamic Bank, Dubai Islamic Bank, Commercial Bank of Dubai, Etisalat, Arab Bank for Investment and Foreign Trade, Emirates Islamic Bank, United Arab Bank, HSBC, RAK Bank, Amlak Finance, National Bank of Umm Al Quwain, Citibank, and Standard Chartered.

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