Abu Dhabi: The Nationals Defaulted Debts Settlement Fund (NDDSF) has announced the exemption of 1,277 Emirati citizens from debts amounting to AED 401.8 million ($109.4 million).
The milestone was achieved in collaboration with 18 banks and financial institutions across the UAE. The initiative aligns with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the continuous follow-up of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court.
The effort reflects the UAE leadership’s dedication to overcoming challenges faced by Emirati citizens and ensuring their social and economic welfare.
Jaber Mohammed Ghanem Al Suwaidi, Minister of State and Chairman of the Supreme Committee of the NDDSF, highlighted the leadership’s unwavering commitment to enhancing citizens’ quality of life under the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
The Minister commended the proactive efforts of His Highness Sheikh Mansour bin Zayed Al Nahyan in supporting the fund, which provides crucial assistance to low-income individuals, retirees, and senior citizens.
Al Suwaidi expressed gratitude to the 18 participating banks and financial institutions, noting their vital role in fostering societal stability and improving citizens’ well-being.
The institutions involved include prominent entities such as Abu Dhabi Commercial Bank (ADCB) Group, First Abu Dhabi Bank (FAB), Emirates NBD, Mashreq Bank, Abu Dhabi Islamic Bank (ADIB), Dubai Islamic Bank, and more. Officials from participating banks and institutions expressed pride in contributing to this national initiative.