President Sheikh Mohamed waives Dh140m in debt for Emiratis
President Sheikh Mohamed on Wednesday waived the debts of 222 Emiratis, amounting to more than Dh139.8 million, ahead of Eid Al Adha.
The relief has been extended through the Defaulted Debts Settlement Fund, with beneficiaries including retirees and social support beneficiaries.
The move is part of efforts to promote social welfare and development by easing financial burdens, state news agency Wam reported.
Debts totalling about Dh86.4 million will be waived for 132 retirees, while 90 citizens will be exempted under the social support category from repaying debts amounting to Dh53.4 million.
The move follows a similar waiving of debts announced before the UAE's 53rd National Day last year. At the time, debts worth Dh401 million were cleared for 1,277 Emiratis.
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