The Non-Performing Loans Fund (NPLF) has announced the exemption of some 1,716 citizens from their debts valued at over Dh787 million, says a report from the Emirates News Agency (WAM).
This was upon directives of President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, and with the support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and the monitoring of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Javr Mohammed Al Suwaidi, Director of the Abu Dhabi Crown Prince’s Court and Chairman of the Supreme Committee of the NPLF, said the fund is continuing to implement exemption initiatives and making settlements, in cooperation with several national banks.
The exemption aims to provide decent living standards as well as family and social stability to Emirati people around the country, as well as improve their living standarda and provide them with comfort and financial independence, to achieve overall social balance, Al Suwaidi added.
This initiative coincides with the celebration of the UAE’s 48th National Day. This is seen as an important one as it could spread joy and happiness into the hearts of Emirati families and relieve their financial burdens.
At least 15 banks have participated in implementing the initiatives.
