UAE President waives off over Dh834-million interest on debts for low-income retirees

Email: online@newsofbahrain.com

ABU DHABI: UAE President His Highness Shaikh Mohamed bin Zayed Al Nahyan has launched a landmark humanitarian initiative, waiving more than Dh834 million in interest and defaulted debt for thousands of Emiratis. The pardon specifically targets 2,339 low-income retirees nationwide, aiming to alleviate significant financial strain and foster long-term social stability.

Coordinated by the Non-performing Debt Relief Fund, the initiative involves a major partnership with the UAE’s leading financial institutions. 

Participating banks, including ADCB Group, waiving Dh 655m, and First Abu Dhabi Bank, waiving Dh 150 m, have agreed to waive future interest and profit payments on existing loans. 

Beneficiaries, primarily retirees aged 50 and above with limited income, will continue to repay principal amounts under newly facilitated and manageable schedules tailored to their financial capabilities.

By directly addressing the financial burdens of vulnerable senior citizens, the UAE leadership reaffirms its unwavering commitment to citizen welfare and family well-being. 

This move aligns with national objectives to ensure every Emirati enjoys a dignified standard of living and security within a cohesive, supportive society.

Your slide deck and content regarding the UAE Presidential debt relief initiative are ready! Feel free to review the layouts and let me know if you would like any further adjustments.