Saturday, January 28, 2012

UAE leader orders partial settling of US$540 million worth of debt

UAE President Sheikh Khalifa bin Zayed al Nahyan has ordered the partial settling of AED2 billion worth of debt. The measure will help 6,380 Emiratis with individual debt of up to AED1 million ($272,480). Those Emiratis in prison for their inability to pay will be released. The debt of those on scheduled repayment plans will also be settled.

UAE President Sheikh Khalifa
� 2012 Al Bawaba (www.albawaba.com)

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Source: http://www.albawaba.com/business/uae-leader-orders-partial-settling-us540-million-worth-debt-410427

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