adminthe UAE ruler has settled debts for individuals in default.
In January, Sheikh Khalifa paid off a total of US$544 million personal debts.
Sheikh Khalifa made the decision after the Supreme Committee of the Debts Settlement Fund issued its recommendation concerning debtors with limited income.
It has long been a tradition for governments in the Gulf region to pay off debts or capital losses for the citizens.
In the past, the Kuwaiti government frequently settled losses for traders suffering from stock market crashes, and the Saudi government often stepped in to pay off debts for college students after they received their diplomas. — Xinhua.
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- July 30, 2026
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