Mohamed bin Zayed receives delegation of Debt Settlement Fund

Photo: WAM

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, today received a delegation of the banks partaking of the Debt Settlement Fund Initiative to exempt 3,310 UAE nationals of their debt.

The initiative came in translation of the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, as well as the follow-up of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, to stamp out all obstacles met by Emirati citizens and ensure social welfare and economic wellbeing in society.

Sheikh Mohamed expressed his appreciation to the delegates of the participating banks for their positive response and contribution to rendering the initiative a real success as well as their commitment to their Corporate Social Responsibility obligations.

"The UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, commits to ensuring the fundamentals of decent life for UAE nationals, including their rights to social and familial stability," Sheikh Mohamed said.

The Debt Settlement Fund recently announced that AED361 million in loans of 3,310 UAE nationals have been waived off in cooperation with 13 banks.

The national banks that waived the debts included Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Emirates NBD, First Abu Dhabi Bank, Dubai Islamic Bank, RAKBANK, Al Hilal Bank, Union National Bank, Noor Bank, Emirates Islamic, Commercial Bank of Dubai, Sharjah Islamic Bank, and Arab Bank for Investment & Foreign Trade (Al Masraf).

Attending Qasr Al Bahr Majlis were H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region; H.H. Sheikh Tahnoun bin Mohammed Al Nahyan, Abu Dhabi Ruler’s Representative in Al Ain Region; H.H. Sheikh Saif bin Mohammed Al Nahyan; H.H. Sheikh Sorour bin Mohamed Al Nahyan; H.H. Sheikh Issa bin Zayed Al Nahyan; H.H. Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Board of Trustees of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation; H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; H.H. Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince's Court; H.H. Sheikh Khalid bin Zayed Al Nahyan, Chairman of the Board of Zayed Higher Organisation for Humanitarian Care & Special Needs, ZHO; H.H. Dr. Sheikh Sultan bin Khalifa Al Nahyan, Adviser to the UAE President; Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, and Sheikh Hamdan bin Mubarak Al Nahyan.

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