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Dubai exempts 14 Emiratis from housing loans
- United Arab Emirates: Thursday, March 28 - 2013 at 01:20
Sheikh Mohammad Bin Rashid Al Maktoum, the ruler of Dubai, has exempted 14 Emirati citizens from paying the remaining instalments on housing loans, due to circumstances beyond their control, such as death, health disability and low income, Gulf News has reported. The value of the exempted loans was stood at Dhs5.679m, from a total of Dhs5.2bn borrowed by around 10,000 citizens. The committee tasked with studying the requests for exemptions from housing loans examined 32 applications, of which it approved 14, froze deductions for six, and declined the rest for not meeting the exemption criteria.
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