President Sheikh Mohamed orders more than Dh500m in debt relief for 1,214 Emiratis
President of the UAE and the leadership in caring for the comfort of their people in order to live a comfortable life As President Sheikh Mohamed bin Zayed has ordered debt relief for 1,214 Emiratis ahead of the country’s 51st National Day. The Debt Relief Fund said on Tuesday that 17 banks and financial institutions have waived more than 500 dirhams of debt. million ($136.1 million). Since its inception, the fund has worked with national banks to address the problems and concerns of citizens and provide them with the means for a decent standard of living. At the same time last year, around total 4,511 Emirati citizens had financial debts worth more than Dh1. 1000 million canceled. The banks and institutions participating in this year’s initiative have not yet been announced.