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Post by : Badri Ariffin
Sheikh Mohamed bin Zayed Al Nahyan has greenlit a substantial debt relief program aimed at aiding 2,339 low-income retirees throughout the UAE, with total relief surpassing AED 834 million.
As part of this initiative, seven banks across the UAE have been instructed to eliminate all outstanding interest from loans held by affected citizens. This effort seeks to alleviate financial strain on retirees and enhance their quality of life.
Mansour bin Zayed Al Nahyan will oversee the debt settlement operations, acting as Vice President, Deputy Prime Minister, and Chairman of the Presidential Court.
This program is being executed through the Defaulted Debts Settlement Fund, demonstrating the UAE leadership’s unwavering commitment to uplifting vulnerable segments of society.
Officials underline that this decision underlines the UAE’s dedication to social welfare and community cohesion, and is anticipated to foster social development by alleviating the financial burdens on its retired citizens, allowing them to lead more stable and dignified lives.
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