Tue 29-11-2022 22:26 PM
ABU DHABI, 29th November, 2022 (WA) — The Non-Performing Debt Relief Fund has announced that 17 banks and financial institutions have canceled the debts of 1,214 Emirati citizens, worth a total of over AED536,230,000 . The announcement comes in line with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the follow-up of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court ahead of the country’s 51st National Day.
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, Dubai Commercial Bank, Amlak Finance, Standard Chartered, Al Masraf, Emirates Islamic Bank and National Bank of Umm Al Qaiwain (NBQ).
The Non-Performing Debt Relief Fund will settle the sums owed to the Emiratis.
Jabr Mohammed Ghanem Al Suwaidi, Minister of State and Chairman of the Supreme Committee of the Non-Performing Debt Relief Fund, said the waiver is part of the UAE leadership’s concern to ensure a decent life for all nationals of the United Arab Emirates.
Tariq Al Faham / Hatem Mohamed