Following the directives of the President, 1,435 citizens have been granted relief from their debts, totaling 475 million and 154 thousand dirhams. This initiative aims to support families and assist those in financial distress. This step embodies the vision of wise leadership to improve the living conditions of citizens and achieve their social stability.
Royal Directives and Ongoing Efforts
In implementation of the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and under the guidance of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister, the “Debt Settlement Fund” announced the relief of 1,435 citizens from their debts. This initiative represents a form of economic support that reflects the leadership’s commitment to social welfare.
Aims of the Initiative and Calls for Social Justice
This initiative aims to enhance family stability and improve the quality of life for citizens, as it seeks to alleviate the financial burdens on those in distress. The initiative intends to bring smiles to the faces of many families, thereby supporting social development and contributing to the creation of a cohesive community. The goal is to provide assistance to those in dire need and to help create a suitable environment for all citizens.
Application Acceptance Criteria and Specific Standards
The initiative covers several segments of society, including humanitarian and medical cases, as well as individuals in financial distress from low-income backgrounds and deceased individuals. It also includes senior citizens and retirees with limited resources. The settlement of debts with banks follows precise regulations to ensure fairness in the distribution of assistance. The loans covered by the relief must have been directed towards essential life needs.
Partnerships with Banks and Financial Institutions
This initiative strengthens collaboration with 19 banks and financial institutions, including Abu Dhabi Commercial Bank, Emirates NBD, First Abu Dhabi Bank, Abu Dhabi Islamic Bank, Mashreq Bank, and Ras Al Khaimah National Bank. These partnerships demonstrate the commitment of financial institutions to contribute to the social and developmental goals of the state and to facilitate a decent standard of living for citizens.