According to the Non-Performing Debt Relief Fund, 17 banks and financial institutions have absolved 1,214 Emirati nationals’ debts totaling more than AED536,230,000. Prior to the nation’s 51st National Day, the statement is made in accordance with the instructions of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the follow-up of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court.
The seventeen banks and institutions are: First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Al Hilal Bank, Mashreq Bank, Emirates NBD, Abu Dhabi Islamic Bank, RAKBANK, HSBC, Dubai Islamic Bank, National Bank of Fujairah, United Arab Bank, Sharjah Islamic Bank, Commercial Bank of Dubai, Amlak Finance, Standard Chartered, Al Masraf, Emirates Islamic Bank, and National Bank of Umm Al Qaiwain (NBQ).
The money due to Emiratis will be settled by the Non-performing Debt Relief Fund.
According to Minister of State and Chairman of the Supreme Committee of the Non-Performing Debt Relief Fund Jabr Mohammed Ghanem Al Suwaidi, the waiver is consistent with the UAE leadership’s desire to guarantee a dignified life for all UAE citizens.
