The Troubled Debts Treatment Fund announces the cancellation of interest on the debts of 2,339 low-income retirees, with a value exceeding 834 million dirhams.

In implementation of the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and the follow-up of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister and Chief of the Presidential Office, the Troubled Debts Treatment Fund, in cooperation with a number of national banks in the country, announced the cancellation of interest on the debts of limited-income retirees with a value exceeding 834 million dirhams, from which 2,339 retirees nationwide benefited.

In its statement, the Troubled Debts Treatment Fund expressed its deep thanks and appreciation to all the banks and institutions that contributed to this national initiative, appreciating their keenness to commit to enhancing shared societal responsibility, and contributing to embodying the vision of the wise leadership in facilitating the affairs of citizens, providing them with the necessities of a decent life, and supporting national initiatives that enhance stability and family and social solidarity in the UAE.

This initiative comes as part of the ongoing efforts aimed at enhancing the quality of life and achieving financial and social stability for retirees, and in line with the goals of the “Year of the Family 2026” aimed at enhancing family cohesion and stability.

This initiative targets retired citizens aged 50 years and over, with limited income, as part of national efforts aimed at alleviating their financial burdens and consolidating the values ​​of social solidarity and societal stability.

Participating banks and banks included: Abu Dhabi Commercial Group with a value of 655 million dirhams, First Abu Dhabi Bank with a value of 150 million dirhams, Abu Dhabi Islamic Bank with a value of 18.5 million dirhams, Emirates NBD Group and Emirates Islamic Bank with a value of 6.7 million dirhams, in addition to Dubai Islamic Bank with a value of 2.3 million dirhams, Commercial Bank of Dubai with a value of 792 thousand dirhams, and Sharjah Islamic Bank with a value of 6.7 million dirhams. 716 thousand dirhams, and the National Bank of Ras Al Khaimah with a value of 566 thousand dirhams.

The mechanism for implementing the initiative includes banks and banks writing off future interest and profits on loans, while continuing to repay the loan principal according to easy schedules, and the beneficiaries covered by the initiative will be communicated by the participating banks and banks.