Post by : Badri Ariffin

In an impactful display of empathy and responsibility, President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sanctioned the waiver of debts for 1,435 Emirati citizens, amounting to over AED475.154 million.

Managed by the Defaulted Debts Settlement Fund, this initiative aims to alleviate the financial struggles faced by citizens grappling with economic challenges and to promote their overall welfare. The debt relief not only seeks to stabilize families but also contributes to the wider social progress of the nation.

Beneficiaries include a diverse group: low-income borrowers, retirees on limited pensions, and humanitarian or medical aid recipients, alongside families of the deceased. The program collaborates with 19 banks and financial institutions throughout the UAE, ensuring a thorough and organized approach to resolving debts.

This measure offers vital financial assistance to individuals in need, allowing them to rebuild their lives free from the pressure of outstanding debts. Many beneficiaries, who have faced escalating financial challenges, are now afforded the chance to regain stability and confidence.

By concentrating on at-risk populations, the UAE leadership reaffirms its proactive stance on social welfare, underscoring the nation's commitment to the welfare and stability of its citizens.

#Global News #Dubai #UAE News