Latest news with #DefaultedDebtsSettlementFund
Gulf Insider
05-06-2025
- Business
- Gulf Insider
UAE Exempts 222 Citizens From $39mn in Debts
The UAE's Defaulted Debts Settlement Fund has exempted 222 citizens from debts totalling more than AED 139.879 million, following directives from President Sheikh Mohamed bin Zayed Al Nahyan. The initiative, which operates under the supervision of Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, targets retirees and social support categories. The Fund cleared debts exceeding AED 86.476 million for 132 retirees, whilst exempting 90 citizens under the social support category from debts totalling more than AED 53.403 million. 'The initiative reflects the wise leadership's vision to ease the lives of citizens and ensure them a dignified and stable standard of living,' the Emirates News Agency (WAM) said in a statement. The programme contributes to social development by alleviating financial burdens, supporting retirees and social support beneficiaries, and fostering family stability, according to the statement. The initiative aligns with the UAE's national strategy for sustainable development and demonstrates commitment to social cohesion and prosperity, with attention focused on those who served the country and the community's most vulnerable members. The Fund emphasised that the programme embodies President Sheikh Mohamed bin Zayed Al Nahyan's commitment to alleviating financial burdens on citizens. It highlights his vision to ensure a dignified life for Emiratis, promote their well-being, strengthen family and community stability, and uphold the values of cohesion and solidarity that characterise Emirati society. The debt relief initiative supports financial and social stability across the UAE, targeting citizens who require assistance to maintain their standard of living. Also read: UAE Eid Al Adha Weather Forecast: Rain and Humidity Expected
Filipino Times
05-06-2025
- Politics
- Filipino Times
UAE President waives nearly AED 140 million in debts, pardons over 900 inmates for Eid Al-Adha
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has cleared debts amounting to over AED139.8 million for 222 Emirati citizens on the occasion of Eid Al-Adha. Among those granted exemptions are 132 retirees whose debts totaled more than AED86.4 million, and 90 individuals under the social support category, with debts exceeding AED53.4 million. According to the UAE's Defaulted Debts Settlement Fund, the initiative aims to ease the financial burden of citizens and promote a stable and dignified life. It supports social development by helping individuals who have served the nation or are part of the most vulnerable sectors. Prisoners released In a separate move, H.H. Sheikh Mohamed bin Zayed also ordered the release of 963 prisoners. He also pledged to cover all fines imposed on them, giving them a second chance to rejoin society. The gesture is intended to promote the values of forgiveness and compassion, and allow inmates to rebuild their lives with their families and communities. This act follows a long-standing tradition among UAE leaders, who often grant pardons during religious holidays as part of efforts to encourage rehabilitation and social harmony.
Dubai Eye
04-06-2025
- Business
- Dubai Eye
UAE President waives nearly AED 140 million in debt for Emiratis
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has cleared the debts of 222 Emiratis, totalling AED 139.87 million. Among the beneficiaries, 132 retirees will have debts exceeding AED86.476 million waived, while 90 citizens under the social support category are cleared of more than AED53.403 million. The initiative run by the Defaulted Debts Settlement Fund reflects the UAE leadership's commitment to social cohesion and the well-being of vulnerable groups. It also advances social development by easing financial burdens, strengthening family stability and upholding the values of solidarity that define Emirati society.
TAG 91.1
04-06-2025
- Business
- TAG 91.1
UAE President waives nearly AED 140 million in debt for Emiratis
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has cleared the debts of 222 Emiratis, totalling AED 139.87 million. Among the beneficiaries, 132 retirees will have debts exceeding AED86.476 million waived, while 90 citizens under the social support category are cleared of more than AED53.403 million. The initiative run by the Defaulted Debts Settlement Fund reflects the UAE leadership's commitment to social cohesion and the well-being of vulnerable groups. It also advances social development by easing financial burdens, strengthening family stability and upholding the values of solidarity that define Emirati society.
ARN News Center
04-06-2025
- Business
- ARN News Center
UAE President waives nearly AED 140 million in debt for Emiratis
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has cleared the debts of 222 Emiratis, totalling AED 139.87 million. Among the beneficiaries, 132 retirees will have debts exceeding AED86.476 million waived, while 90 citizens under the social support category are cleared of more than AED53.403 million. The initiative run by the Defaulted Debts Settlement Fund reflects the UAE leadership's commitment to social cohesion and the well-being of vulnerable groups. It also advances social development by easing financial burdens, strengthening family stability and upholding the values of solidarity that define Emirati society.
