Under the directives of the President of the State and sponsorship of the Troubled Debt Fund
17 banks, banks and financial institutions exempt 1,214 citizens from more than half a billion dirhams
Jabr Al-Suwaidi: "The initiative embodies Mohammed bin Zayed's approach by making citizen happiness a major priority and a primary goal."
In implementation of the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, and the follow-up of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, the Troubled Debt Treatment Fund announced that 17 banks, banks and financing institutions have exempted 1,214 citizens from their debts, with a total value It amounts to more than 536 million and 230 thousand dirhams.
Jabr Muhammad Ghanem Al Suwaidi, Minister of State and Chairman of the Higher Committee for the Troubled Debt Treatment Fund, said that this initiative embodies the approach of His Highness Sheikh Mohammed bin Zayed Al Nahyan, which makes citizen happiness, improves his standard of living, positive interaction with his problems, and strengthens the causes of family and community stability. .. a major priority, and a primary goal, based on His Highness's belief in the pivotal role of the citizen in achieving the country's development goals and aspirations, and making its renaissance.
Al-Suwaidi added that exempting this number of citizens from their debts confirms the leadership's keenness to support the citizen in all circumstances, and to provide him with the opportunity to actively participate in the development of his society and country, expressing his thanks and appreciation to the banks, banks and financial institutions participating in this initiative, for the great cooperation and patriotic feeling they showed. responsibility towards society.
Al-Suwaidi noted the important role played by the Troubled Debt Fund since its inception, indicating that the fund will continue its national role by supporting the directions of the wise leadership and the cooperation of various institutions in the country.
The list of banks and banks that contributed to the initiative includes 17 banks, banks and financing companies, namely: First Abu Dhabi Bank, Abu Dhabi Commercial Bank Group, Al Hilal Bank, Mashreq Bank, Emirates NBD, Abu Dhabi Islamic Bank, in addition to the National Bank of Ras Al Khaimah, HSBC, and Bank Dubai Islamic Bank, National Bank of Fujairah, United Arab Bank, Sharjah Islamic Bank, Commercial Bank of Dubai, and Amlak Finance, along with Standard Chartered Bank, Arab Bank for Investment and Foreign Trade, Emirates Islamic Bank, and National Bank of Umm Al Qaiwain.
The officials of these banks and financial institutions affirmed their pride in participating in this national initiative for the benefit of society, noting that the Troubled Debt Treatment Fund plays a positive role, and they expressed their keenness to cooperate with the Fund in performing its important mission towards the country.
Hana Al Rostamani, CEO of First Abu Dhabi Bank Group, said, "The Troubled Debt Treatment Fund is the best embodiment of the visions of our wise leadership to meet all the needs of UAE citizens and ensure a decent life for them, which is tangibly reflected in the process of social and economic development." First Abu Dhabi was at the forefront of national institutions contributing to this lofty initiative to support citizens and alleviate their burdens.
She added: “We renew our commitment to support various government initiatives that enhance the prosperity of the country’s citizens, and we affirm the continuation of cooperation with the Troubled Debt Treatment Fund in order to provide the necessary financial solutions and services to achieve the ambitious goals of this initiative in line with the aspirations of the country’s leadership for the next 50 years, in order to enhance cohesion society, and achieving the goals of development and prosperity for the state.
Alaa Erekat, CEO of Abu Dhabi Commercial Bank Group, said: “Based on our firm commitment to our social responsibility, and in line with the vision of our leadership, we are always keen in the Abu Dhabi Commercial Bank Group to actively contribute to various government initiatives, foremost of which is the initiative of the Citizens’ Troubled Debt Fund. It has a positive impact on their lives, and enhances the social and economic stability of their families.”
He added that the group aims, through renewing commitment to this lofty initiative, to contribute to overcoming the challenges faced by distressed citizens with limited incomes by rescheduling their debts, and our specialized team, which was formed especially for this initiative, continues to communicate and coordinate between all concerned parties to discuss the matter. Ways and mechanisms to address the situation of defaulters, and help them to enhance the stability of their social conditions, which will reflect positively on the local community as a whole.
In turn, Hisham Abdullah Al Qassim, Vice Chairman and Managing Director of Emirates NBD and Chairman of the Board of Directors of Emirates Islamic, said: “The leadership of the UAE has always been keen to consolidate the values of tolerance, achieve happiness for its citizens, and improve the quality of their lives,” noting that Emirates Bank Dubai The National and Emirates Islamic are proud to belong to its ancient heritage, stressing the commitment within the framework of the dear UAE's celebrations of the 51st Union Day to provide support and contribute to this noble initiative launched by the wise leadership in the country to celebrate the unity and spirit of union shared by the people of the Emirates, and we will continue to support initiatives that contribute to Enhancing the happiness of citizens, and instilling in them patriotism, and feelings of pride and admiration.
For his part, Nasser Al-Awadi, CEO of Abu Dhabi Islamic Bank Group, affirmed that the bank will continue to contribute, for the seventh year in a row, to the Troubled Debt Fund initiative for the year 2022, by relieving more than 140 UAE nationals of their debts, stressing that cooperation The continuity between the Troubled Debt Treatment Fund and national banks enhances confidence and credibility in the banking sector in the country, and confirms the spirit of social responsibility of national banks, through their adoption of charitable and humanitarian initiatives for the benefit of the citizens of the country.
Al-Awadi explained that this initiative is of particular importance because it coincides with the Martyr’s Day and the country’s celebrations of the 51st Union Day.
He said, "We are keen to continue cooperation with the Troubled Debt Treatment Fund, and its noble initiatives, which are in line with the bank's principles, which encourage the promotion of values and a culture of good in society, and this positive interaction has resulted in the bank launching several financial awareness campaigns."
He said that the beneficiaries of the bank’s exemption fall within the category of those obligated to pay, but their social, family or health conditions did not enable them to pay, and those exemptions were made within this framework, indicating that this initiative comes within the social responsibility policy that the bank is keen on, and it also translates directives Leadership into a tangible reality, especially with regard to making the citizen's well-being and happiness among the most important priorities.
For his part, Dr. Adnan Chilwan, Group Chief Executive Officer of Dubai Islamic Bank, said: “We are pleased to contribute to supporting the initiatives of the UAE government and the Troubled Debt Fund, for the fifth year in a row, and we are hopeful that this continuous commitment will help make a lasting difference in the lives of people who suffer. Difficult circumstances in these challenging times.”
He added that the founding of the United Arab Emirates in 1971 constituted a historic moment, which gave individuals and families a homeland to build their lives in, and this decision led to bringing people together under a common vision towards prosperity and development, hence the celebration of the 51st anniversary of the Union Day pushes us to further cooperation With all citizens, and with people who have gone through difficult circumstances, and for us at Dubai Islamic Bank, cooperation and understanding are two important values that are deeply embedded in all our business, and since we are an Islamic bank, we are driven by determination and steadfastness to provide fair solutions that take into account the personal circumstances of each customer ».
Commenting on the bank’s contribution, United Arab Bank Chief Executive Officer Shrish Beideh said: “With the UAE’s celebrations of the 51st Union Day, and keen on our desire to participate in the initiative of the National Debt Relief Fund, we at United Arab Bank are pleased to confirm our continuation of our endeavor to contribute to overcoming challenges faced by some citizens in order to achieve social development, reduce their living burdens, and support them in securing a decent life.
He pointed out that the contribution of United Arab Bank this year, by forgiving the debts of a number of customers who are citizens of the country, embodies the bank's permanent commitment to participate in various government initiatives aimed at supporting and aiding citizens of the United Arab Emirates.
He said that the bank is working in coordination with the Fund, and with the Central Bank of the United Arab Emirates, to make this noble initiative a success, in the belief that the banking sector has a role in social responsibility, and the promotion of societal stability and sustainability in the country.
For his part, the CEO of Sharjah Islamic Bank, Mohammed Abdullah, praised the national role played by the initiative of the Citizens' Debt Handling Fund to drop the bad debts of citizens, whose foundations were established by the late Sheikh Khalifa bin Zayed Al Nahyan, may God have mercy on him, and today it has become a symbol of humanitarian action and a platform. to give.
Muhammad Abdullah affirmed the keenness of the Board of Directors of Sharjah Islamic Bank and the executive management to continue to support the initiative, as the bank believes in the noble human value represented by the initiative, which is added to the list of humanitarian initiatives launched by the United Arab Emirates over the past 51 years, indicating that it strengthens the government's efforts to support The business sector and motivate it to actively participate in social responsibility practices that have a positive impact, in line with the priorities and goals of sustainable development on the humanitarian and social side of the United Arab Emirates.
He said that this important humanitarian step enhances the societal and family stability of the defaulters and is consistent with the efforts aimed at providing advice and guidance to those dealing with banks and providing full awareness to borrowers about borrowing to meet their necessary needs in a manner commensurate with their ability to repay, explaining that caring for distressed individuals in society is one of the great human values. And a pillar of Zayed’s thought and the policy of the UAE.. We at Sharjah Islamic Bank work as a national institution in accordance with the work system drawn for us by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, to serve people of different languages, cultures, religions and orientations as it is a lofty goal where we believe That our participation in the Citizens Debt Relief Fund initiative is not considered an honor, but rather a human and patriotic assignment and duty in the first place..It comes as part of a series of community support programs carried out by the bank to enhance the concept of community partnership, as the bank is an integral part of the benevolent society of the United Arab Emirates.
In turn, Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, affirmed: "The bank's commitment to contribute to securing the social and economic well-being of all segments of society.. From this standpoint, we are pleased to support this initiative by our government, which aims to improve the quality of life of citizens."
He said, "We seize this occasion to affirm our commitment to contributing to the government's efforts to enhance the UAE's position to become one of the happiest countries in the world."
For his part, Arif Al Harami Al Bastaki, CEO of Emlak Finance, said: “We renew our commitment to support government initiatives that aim to support the citizens of the United Arab Emirates and ensure a decent life for them through Amlak’s contribution, for the second year in a row, to the Troubled Debt Fund initiative.”
He stressed the continuation of supporting the leadership's endeavors aimed at alleviating financial burdens and enhancing sustainability and financial and family stability for the country's citizens. He said that with His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, assuming leadership of the country, the blessed march that made the citizen's happiness a priority continues with the provision of various conditions and means that achieve social stability.
Rola Abu Manneh, CEO of Standard Chartered Bank in the UAE, said: “We are pleased to have participated for the third year in a row in this generous initiative, which is in line with the approach of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, in following up the conditions of citizens and identifying their needs, which guarantees a decent life.” to the citizen and his family.
She added that Standard Chartered Bank, since its inception in the country, has been keen to support all successful national initiatives that support the community, foremost of which is addressing the challenges resulting from citizens’ debts. Therefore, on the occasion of the country’s fifty-first Union Day, we will exempt the financial dues owed by a large number of citizens’ customers with the bank.
For his part, Graham Fitzgerald, CEO of the Arab Bank for Investment and Foreign Trade, said: “We are always keen to participate in various governmental initiatives that aim to secure the requirements for a decent life for the citizens of the UAE, and to pay attention to achieving family and social stability, whose positive effects are reflected in society.”
He affirmed the bank’s commitment to continue its support and cooperation with the Citizens’ Troubled Debt Treatment Fund and to provide appropriate financial solutions aimed at alleviating the living burdens and ensuring family stability for the country’s citizens with limited income. He said: “We are proud and happy to participate for the fifth year in a row in this generous initiative launched by the Fund Dealing with bad debts.
Adnan Al-Awadi, CEO of the National Bank of Umm Al-Qaiwain PJSC, said: “The bank is honored to participate in the initiative of the Citizens’ Troubled Debt Treatment Fund, in line with the firm approach of the wise leadership of the UAE in enhancing care and concern for its citizens to open up opportunities for them for a stable life, and its continuous keenness To provide all their needs for effective participation in society and positive contribution to the development of the UAE ».
Al-Awadhi praised the efforts of the Citizens' Troubled Debt Treatment Fund, which have the best impact in relieving the burdens and obligations of distressed citizens, explaining that the participation of National Bank of Umm Al Qaiwain in this initiative this year comes within the framework of its commitment to its social responsibilities and continuous work to support all government initiatives that enhance the prosperity of citizens The state and the belief that the banking sector has an important role in enhancing stability and sustainability in the state.
He pointed out that within the framework of the National Bank of Umm Al Qaiwain's support for the fund, it will waive debts to its national customers, worth about two million, eight hundred and ninety-two thousand dirhams, as a commitment to continue supporting the people of the Emirates and contributing to the broader social development of the country.
The CEO of the National Bank of Ras Al-Khaimah, Rahil Ahmed, affirmed the appreciation of the National Bank of Ras Al-Khaimah for the importance of the Presidential Court initiative, which aims to help low-income citizens settle their loans, indicating that the bank continues to work with the Troubled Debt Treatment Fund and with dealers to find appropriate ways to help them. Debt relief. He also stressed the importance of the Bank's cooperation with the Presidential Court, and the keenness to continue this cooperation during the coming years.
• Bank officials: "The Troubled Debt Treatment Fund plays a positive role, and we are keen to cooperate with it."
• Bank officials: "The Troubled Debt Treatment Fund plays a positive role, and we are keen to cooperate with it."
"Mashreq" waives debts of 90 million dirhams owed by 124 Emiratis
"Mashreq" waives debts of 90 million dirhams owed by 124 Emiratis
On the occasion of the 51st Union Day of the UAE, Mashreq Bank announced its contribution to support the Citizens' Troubled Debt Treatment Fund, with the aim of providing assistance to defaulted citizens in paying their outstanding debts, indicating that as part of its continued commitment to participate in this noble initiative, Mashreq will waive debts worth 90.16 million dirhams owed by 124 Emiratis, and being one of the national Emirati banks, supporting the people of the country and contributing to the promotion of the community development of the country as a whole represents a firm commitment for the bank.
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