Seven banks waive 1930 Emiratis from bad debts

Ahmad Jumaa Al Za’abi, Chairman of the Supreme Committee of the Debt Settlement Fund, honours the seven banks

Abu Dhabi

Seven national banks were honoured on Thursday for waiving 1930 Emirati citizens from bad debts worth Dh325 million.

The seven banks are Abu Dhabi Islamic Bank, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Al Hilal Bank, Emirates NBD, Commercial International Bank and Commercial Bank of Dubai.

Ahmad Jumaa Al Za’abi, Deputy Minister of Presidential Affairs, Chairman of the Supreme Committee of the Debt Settlement Fund,, honoured the banks, stressing the leadership’s keenness on preserving the stability of Emirati citizens and providing all means of comfort and prosperity through achieving social development them and motivate them to work and participate in the renaissance of their homeland so as to accelerate the development and progress therein.

He also praised His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, for his support to the Debt Settlement Fund and his directives to provide people with a decent life and enhance their family stability.

He also praised Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, for following up on the work of the fund and his directives to find out solutions for bad debts and provide maximum stability for the UAE people.

Al Za’abi expressed his thanks and appreciation to the seven banks, which have exempted the defaulters from the debts, in recognition of their high social responsibility and effective participation in achieving the objectives of the Debt Settlement Fund, hoping that this cooperation will continue to serve as role models for the rest of the national banks.

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