UAE Exempts Over 1,200 Citizens from Debts Totaling AED 401 Million

ABU DHABI: In a move to enhance social welfare and ensure economic stability, UAE authorities have exempted 1,277 Emirati citizens from debts amounting to AED 401,791,531.

The initiative was implemented under the directives of UAE President Sheikh Mohamed bin Zayed Al Nahyan, with follow-up from Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister, and Minister of the Presidential Court. It aims to remove financial obstacles faced by citizens and promote societal well-being.

The Nationals Defaulted Debts Settlement Fund (NDDSF) announced the exemption, achieved in collaboration with 18 banks and financial institutions across the UAE.

Jaber Mohammed Ghanem Al Suwaidi, Minister of State and Chairman of the Supreme Committee of the NDDSF, highlighted the leadership’s dedication to ensuring citizens’ welfare. He praised Sheikh Mansour’s commitment to the fund, which provides crucial support to retirees, low-income individuals, and senior citizens.

“This initiative reflects the UAE’s unwavering commitment to the stability and prosperity of its citizens,” said Al Suwaidi, commending the contributions of participating banks and institutions in facilitating debt settlements.

The initiative’s success was made possible by the active involvement of 19 banks and entities, including Abu Dhabi Commercial Bank (ADCB) Group, Al Hilal Bank, Emirates NBD, Mashreq Bank, First Abu Dhabi Bank (FAB), Abu Dhabi Islamic Bank (ADIB), and Sharjah Islamic Bank. Other participants included Dubai Islamic Bank, Commercial Bank of Dubai, Etisalat, Arab Bank for Investment and Foreign Trade, Emirates Islamic Bank, United Arab Bank, HSBC, RAK Bank, Amlak Finance, National Bank of Umm Al Quwain, Citibank, and Standard Chartered.

Officials from these institutions expressed pride in being part of the national initiative, emphasizing their commitment to societal stability and the well-being of Emiratis.

“This initiative not only addresses financial challenges but also underscores the UAE’s leadership in fostering a strong and cohesive society,” said a senior official from one of the participating banks.

The NDDSF has been instrumental in easing financial burdens for Emirati citizens, reflecting the UAE’s broader vision of ensuring a prosperous future for all. By providing debt relief, the program continues to play a pivotal role in enhancing the quality of life and promoting economic resilience.

This latest effort highlights the UAE’s dedication to supporting its citizens, ensuring they can overcome financial hurdles and contribute actively to the nation’s progress.