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UAE authorities will forgive their citizens almost 100 million dollars of debt

Dubai Marina Arab United Emirates
The government commission of the UAE has signed a deal with 13 banks, thanks to which debts will be forgiven for citizens of the country experiencing financial difficulties.

UAE authorities have agreed with banks to write off debts to low-income citizens. According to "Polyexpert", a special government commission has entered into an agreement with 13 banks, according to which the residents of seven emirates who are in financial trouble will be forgiven debts amounting to 98 million dollars.

Local media say - the government is confident that this measure will significantly affect the improvement of the lives of citizens, and will also improve the well-being of families.

According to preliminary information, the debts will be forgiven to three thousand creditors.

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