The Board of Directors of the Mohammed bin Rashid Housing Establishment, headed by the Chairman of the Board, Mohamed Ibrahim Al-Shaibani, announced the completion of the study of 47 requests to exempt citizens from paying the remaining housing loans to them with a value of 17 million and 721 thousand dirhams.
The CEO of the Foundation, Sami Abdullah Gargash, stressed that the Foundation is doing its best to study the requests submitted to clients for exemption from loans, and the speed of deciding them, according to the conditions approved by the Board of Directors, noting that the total number of exemptions in 2019 amounted to 65 requests, valued at 22 million and 793 One thousand dirhams.
For his part, the Assistant Executive Director of the Financial and Institutional Support Sector, and the leader of the study team to request exemptions from the payment of housing loans to the institution, Mohamed Hamid Al-Marri, affirmed the Foundation’s commitment to the criteria set by the Board of Directors in studying the requests represented by several criteria, the most important of which are: the death of the loan owner or his health deficit or He reaches 60 years of age with a monthly income of less than 15,000 dirhams, in addition to the existence of high financial obligations for acceptable purposes according to the discretion of the members of the committee, and the absence of property in excess of the remaining amount of the Foundation’s loan, as well as the obligation to pay at least 50% of the loan’s value .
Al-Murri stated that it is not necessary to obtain the exemption that the applicant be retired or has a health deficit, but rather the sum of ratios and evaluation criteria that determine the result, explaining the cases presented to the committee and accepting its study, including: the death of the beneficiary and the heirs ’inability to pay the rest of the loan installments, The beneficiary's injury to a health deficit (total or partial) that led to a decrease in his income, or the beneficiary's exposure to urgent circumstances that affected his ability to pay the loan installments, such as stopping or decreasing the monthly income, and any other conditions estimated by the committee. Al-Marri pointed out that in the event that the request is rejected, the beneficiary or his heirs have the right to submit a new application after six months have passed since the date of the committee’s decision on their previous request, in the event that there are reasons that have arisen on the request, stressing that the strategic goal of the institution is to achieve housing stability for the citizenship family, and to provide A decent life for citizens, by providing distinguished services.