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UAE President orders Dhs2bn loan settlement for 6,830 citizens
- United Arab Emirates: Thursday, January 26 - 2012 at 10:05
The UAE government has announced it is to settle some Dhs2bn of debt owed by nationals, WAM has reported. A total of 6,830 citizens, whose debt does not exceed Dhs1m, will have their non-performing loans settled by the government and borrowers will be released under the condition that 25% of their salaries will be deducted until the debt is paid back. Sheikh Khalifa's gesture follows the recommendation submitted to him by the Supreme Committee of the Debts Settlement Fund for Citizens with limited income, chaired by Ahmed Jumaa Al Zaabi, Deputy Minister for Presidential Affairs.
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StaffThursday, January 26 - 2012 at 10:05 UAE local time (GMT+4)
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