UAE Exempts 222 Citizens From $39mn in Debts

Gulf Insider

a day ago

The UAE's Defaulted Debts Settlement Fund has exempted 222 citizens from debts totalling more than AED 139.879 million, following directives from President Sheikh Mohamed bin Zayed Al Nahyan.
The initiative, which operates under the supervision of Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, targets retirees and social support categories.
The Fund cleared debts exceeding AED 86.476 million for 132 retirees, whilst exempting 90 citizens under the social support category from debts totalling more than AED 53.403 million.
'The initiative reflects the wise leadership's vision to ease the lives of citizens and ensure them a dignified and stable standard of living,' the Emirates News Agency (WAM) said in a statement.
The programme contributes to social development by alleviating financial burdens, supporting retirees and social support beneficiaries, and fostering family stability, according to the statement.
The initiative aligns with the UAE's national strategy for sustainable development and demonstrates commitment to social cohesion and prosperity, with attention focused on those who served the country and the community's most vulnerable members.
The Fund emphasised that the programme embodies President Sheikh Mohamed bin Zayed Al Nahyan's commitment to alleviating financial burdens on citizens.
It highlights his vision to ensure a dignified life for Emiratis, promote their well-being, strengthen family and community stability, and uphold the values of cohesion and solidarity that characterise Emirati society.
The debt relief initiative supports financial and social stability across the UAE, targeting citizens who require assistance to maintain their standard of living.
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