Post by : Bianca Suleiman
In a significant move to support low-income retirees, President Mohamed bin Zayed Al Nahyan has sanctioned a debt relief program benefiting 2,339 citizens, totaling over AED 834 million.
The initiative directs seven banks in the UAE to eliminate all accrued interest on loans held by these retirees, aiming to alleviate financial strain and enhance their quality of life.
Oversight of the debt settlement will be managed by Mansour bin Zayed Al Nahyan, who serves as Vice President, Deputy Prime Minister, and Chairman of the Presidential Court.
This initiative is executed through the Defaulted Debts Settlement Fund, highlighting the UAE leadership’s dedication to aiding the nation’s vulnerable populations.
Officials emphasized that this decision underscores the UAE’s unwavering commitment to social welfare, family integrity, and community cohesion. By relieving financial strains, it aims to promote social progress and enable retirees to lead lives filled with dignity and stability.
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