Nearly AED 870 million worth of debts of UAE nationals waived off

Under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, 1,607 UAE nationals have had debts worth more than AED 869.85 million waived off.

Making the announcement on Monday, the Citizen's Debt Settlement Fund said 12 banks were involved in the waiver.

It is being implemented with support from His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and the follow-up of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

Jaber Mohammed Ghanem Al Suwaidi, Director-General of the Crown Prince Court of Abu Dhabi and Chairman of the Supreme Committee of the Non-performing Debt Relief Fund, said this gesture is part of the UAE's wise leadership's keenness to ensure social stability of its citizens.

Under the directives of Khalifa bin Zayed, with the support of Mohamed bin Zayed and the follow-up of Mansour bin Zayed, the Citizens’ Debt Settlement Fund announces the exemption of 1,607 citizens from debts worth AED869,845,000 with the participation of 12 banks across the UAE. pic.twitter.com/oBjAi3o9Na

— مكتب أبوظبي الإعلامي (@ADMediaOffice) November 30, 2020