Picture for illustration purposes only.


1,607 people with bank loans in UAE get debt exemption


DUBAI – Some 1,607 Emiratis were exempted from paying their debt after the directives of UAE President Sheikh Khalifa bin Zayed Al Nahyan, according to the Abu Dhabi Government Media Office.

A dozen banks participated in the programme, UAE Citizens’ Debt Settlement Fund, to waive off debts worth Dh869.8 million.

The debt relief programme is being implemented with support from Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Banks that participated in the programme include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Arab Bank for Investment & Foreign Trade (Al Masraf), Al Hilal Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic, First Abu Dhabi Bank, Mashreq Bank, NBQ, RAKBANK and Standard Chartered. ICA/Expat Media

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