President His Highness Sheikh Mohamed bin Zayed Al Nahyan has cleared the debts of 2,339 low-income, retirees across the country, totalling more than AED 834 million.
Seven banks in the UAE have been directed to waive interest accrued on loans taken by the citizens.
It will be carried out under the supervision of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court.
The initiative run by the Defaulted Debts Settlement Fund reflects the UAE leadership’s commitment to social cohesion and the well-being of vulnerable groups.
It also advances social development by easing financial burdens, strengthening family stability and upholding the values of solidarity that define Emirati society.
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