UAE earmarks Dhs1.49bn to settle, reduce citizens loans
- United Arab Emirates: Tuesday, December 04 - 2012 at 05:38
The UAE's Higher Committee of the Nationals Defaulted Debts Settlement Fund has allocated Dhs1.49bn to settle defaulted loans with various banks, Wam has reported. The decision was made based on reports presented to the fund by six national banks that included National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, First Gulf Bank, Abu Dhabi Islamic Bank, Union National Bank and Al Hilal Bank. The reports dealt with the rescheduling of the loan repayments by the citizens in such a way that the reimbursed amounts each month will not exceed 50% of their salaries transferred to the banks. The banks also agreed to cut the interests on the loans by 1%.
- Kenya Airways to launch Nairobi-Abu Dhabi service
- RAKBANK CEO-elect resigned
- EgyptAir trains Yemen Airways engineers
- Arabtec workers stage strike in Abu Dhabi, Dubai
- Riyadh metro's ultra-modern designs revealed
- OMRAN drives new tourism projects in Oman
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.