Sheikh Mohamed Waives Dh834 Million Debt for 1,122 UAE Retirees

UAE President Sheikh Mohamed bin Zayed Al Nahyan has ordered the waiver of Dh834 million in outstanding financial debt for 1,122 low-income retirees across the country. The presidential directive aims to alleviate financial burdens and provide social stability for senior citizens with limited monthly income. Direct Relief for 1,122 Citizens The debt settlement will be facilitated through the Non-Performing Debt Relief Fund. This initiative specifically targets retirees whose financial liabilities have hindered their quality of life. By clearing these debts, the government removes legal and financial pressures from more than 1,100 households, ensuring a higher standard of living for the beneficiaries. Collaboration with National Banks The Non-Performing Debt Relief Fund works in coordination with various national banks and financial institutions to process these waivers. This latest allocation is part of a series of regular federal interventions designed to manage personal debt among UAE nationals and maintain the welfare of the elderly population. Participating banks will finalize the cancellations for the identified individuals as per the presidential order.