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|17 October, 2018

Sharjah Debt Settlement Committee approves $14.7mln to settle citizens' debts

So far, 1,208 citizens have benefited from the Committee's debt repayment process

UAE currency, 500 dirhams closeup note. Image for illustrative purposes. Expatriate deposits made up about 11.5% of total deposits in the UAE’s central banks

UAE currency, 500 dirhams closeup note. Image for illustrative purposes. Expatriate deposits made up about 11.5% of total deposits in the UAE’s central banks

SHARJAH - The Sharjah Debt Settlement Committee announced the approval of a debt repayment plan valued at AED54,680,000.

The announcement follows the directives of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, to help settle financial debt cases of UAE citizens in the emirate.

Rashid Ahmed bin Al Sheikh, Chief of the Sharjah Emiri Court and Head of the Committee, said that the Committee approved to pay the debts of individuals who have defaulted as part of the 17th batch of payments.

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So far, 1,208 citizens have benefited from the Committee's debt repayment process, with a total of AED591,990,153 in debts being processed and settled, Al Sheikh added.

© Copyright Emirates News Agency (WAM) 2018.