The UAE has waived debts totaling Dh401,791,531 for 1,277 Emirati citizens, following the directives of UAE President Sheikh Mohamed bin Zayed Al Nahyan. The initiative, overseen by Sheikh Mansour bin Zayed Al Nahyan, UAE Vice-President and Deputy Prime Minister, aims to ease financial burdens on Emirati citizens and promote social and economic stability.
The Nationals Defaulted Debts Settlement Fund (NDDSF) announced the exemptions in collaboration with 18 banks and financial institutions across the UAE. Jaber Mohammed Ghanem Al Suwaidi, Minister of State and Chairman of the NDDSF Supreme Committee, highlighted the UAE leadership’s commitment to citizen welfare and praised Sheikh Mansour’s dedication to the initiative. The program supports retirees, low-income individuals, and senior citizens.
Participating banks and financial institutions played a crucial role in facilitating debt settlements. Institutions like Abu Dhabi Commercial Bank (ADCB), Emirates NBD, and First Abu Dhabi Bank (FAB) contributed the highest amounts, with settlements of Dh97 million, Dh72 million, and Dh64 million, respectively.
The full list of participating entities includes major banks and companies such as Mashreq Bank, Abu Dhabi Islamic Bank (ADIB), Sharjah Islamic Bank, Dubai Islamic Bank, and Emirates Telecommunications Group, among others. Officials from these institutions expressed pride in contributing to this national effort, which reinforces societal well-being and economic stability.
