The authorities agreed with banks on “debt Amnesty”. The gesture is part of the leadership of the UAE to ensure a decent life for citizens.
The government of the United Arab Emirates (UAE) in partnership with 13 banks have helped citizens who had debts. As reported by Gulfnews, the results of negotiations with the authorities, banks agreed to write off debts of citizens in the amount of 361 million dirhams (more than 98 million dollars).
Chairman of the Supreme Committee of the debt settlement of the government of the UAE Jaber Mohammad al Suwaidi explained that this measure is aimed at ensuring a decent standard of living for all citizens of the country.
According to him, the forgiveness of debt should maintain the maximum possible level of social stability.
Al Suwaidi also pointed out that the initiative is related to the “year of tolerance” in the country, announced the President of the UAE and Emir of Abu Dhabi Khalifa bin Zayed al Nahyani.
Representatives of the banks, in turn, noted that the move is aimed at reducing the social burden on ordinary citizens and “the promotion of values of tolerance”.