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| 14 December, 2017

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

Image used for illustrative purposes.

Image used for illustrative purposes.

REUTERS/Arnd Wiegmann
ABU DHABI  -- The UAE banks which waived defaulted loans of 1930 UAE nationals worth AED325 million have been recognised by Ahmed Juma Al Zaabi, Deputy Minister of Presidential Affairs and chairman of the Supreme Committee of the Debt Settlement Fund.

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

AL Zaabi, during the recognition ceremony which was held at the National Archive Theatre and attended by a number of state executives and bankers, commended the keenness of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to ensure welfare and family integration in the UAE society and provide all life amenities and services to the UAE citizens to incentivise them to effectively contribute to the transformational development drive in the country.

He spoke high of the support lent by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the fund and his directives to ensure decent life for all UAE citizens.

He also lauded the eminent role played by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs in supporting the fund in its settling bad debts and ensuring highest possible level of social stability.

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