UAE President waives AED475 million in debt for Emiratis

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has cleared the debts of 1,435 Emirati citizens, totalling more than AED475.154 million.

The initiative run by the Defaulted Debts Settlement Fund reflects the UAE leadership’s commitment to easing the financial burdens of citizens and ensuring their wellbeing, supporting family stability and contributing to broader social development.

The programme aims to reduce living pressures on low-income and distressed borrowers and help them regain financial stability.

It is carried out in cooperation with 19 banks and financial institutions in the UAE.

The exemptions cover humanitarian and medical cases, low-income borrowers, the deceased, low-income retirees, and senior citizens.