The UAE government has forgiven $100 million debtPhoto: kurortyoae.ru

In January 2012, the authorities have to forgive its citizens debts of $540 million

24.02.19 220000

The Cabinet of the United Arab Emirates more than 3 thousands of citizens who had a debt to the banks, following talks with the latter forgave debt in the amount of 361 million dirhams (more than us $98 million).

As reported by Gulfnews, all the authorities held talks with 13 banks.

Chairman of the Supreme Committee of the debt settlement government Jaber Mohammed al Suwaidi said that this was done to ensure a decent standard of living for all citizens of the country.

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Al Suwaidi stressed that this initiative fits into the framework of the course declared by the authorities of the country. Earlier, the Emir of Abu Dhabi and the UAE President Khalifa bin Zayed al Nahyan announced the beginning of the “year of tolerance” in the country.

It is noted that the UAE government has taken similar measures. In January 2012, the Khalifa bin Zayed al Nahyan announced that 6,8 thousand citizens will be forgiven debts amounting to $540 million of the debt Under the Amnesty were those citizens, whose debt does not exceed $270 thousand.

As previously reported by the Focus:

  • The UAE and Saudi Arabia announced plans to establish a joint cryptocurrencies in the framework of strengthening the strategic partnership between the two countries.
  • A British tourist in the UAE had over 3 hours to earn 33 of a fine of 50 thousand dollars for speeding. He rented Lamborghini Huracan in Dubai, but was soon arrested by the police.