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Debt Relief for 2,339 Retired Citizens in the UAE

Debt Relief for 2,339 Retired Citizens in the UAE

Post by : Bianca Haleem

In a significant move, President Mohamed bin Zayed Al Nahyan has endorsed a debt relief program benefiting 2,339 low-income retirees across the UAE, amounting to over AED 834 million.

Under this initiative, seven banks in the UAE are mandated to eliminate all interest on loans taken by these retirees, aimed at alleviating financial stress and improving their quality of life.

The process of settling debts will be overseen by Mansour bin Zayed Al Nahyan, who holds the positions of Vice President, Deputy Prime Minister, and Chairman of the Presidential Court.

This initiative is facilitated through the Defaulted Debts Settlement Fund, reflecting the leadership's ongoing dedication to assisting vulnerable segments of society.

Officials have expressed that this decision underscores the UAE's unwavering commitment to social welfare and community support, aiming to enhance financial stability and dignity for retired citizens.

May 26, 2026 1:19 p.m. 1612
Global News UAE News Dubai News World News

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