Debts worth more than Dh401 million waived for over 1,200 UAE citizens
Move comes in line with directives of President and the follow up of Vice President
Abu Dhabi: The Nationals Defaulted Debts Settlement Fund (NDDSF) on Saturday announced the exemption of 1,277 UAE citizens from their debts with a total value of Dh401,791,000, in cooperation with 18 banks and financial institutions in the country.
This comes in line with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the follow up of Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, to stamp out all obstacles met by Emirati citizens and ensure social welfare and economic wellbeing in society.
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 His Highness Sheikh Mohamed bin Zayed Al Nahyan.
He also praised His Highness Sheikh Mansour bin Zayed Al Nahyan’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.
Banks, financial institutions and national companies officials expressed their pride in taking part in this national initiative through the Fund to serve the interests of citizens and society.