In a significant move to support low-income retirees, UAE President Sheikh Mohamed bin Zayed Al Nahyan has directed the Defaulted Debts Settlement Fund to waive over Dh834 million in accrued interest on loans owed by 2,339 retirees across the country. This initiative, overseen by Sheikh Mansour bin Zayed Al Nahyan, aims to alleviate financial burdens and enhance the quality of life for Emirati retirees aged 50 and above. Participating banks, including ADCB Group and First Abu Dhabi Bank, have contributed significantly, with ADCB waiving Dh655 million alone. The banks involved will not only waive future interest payments but also allow beneficiaries to repay their principal amounts under more manageable schedules. This initiative aligns with the UAE's broader goals for the Year of the Family 2026, focusing on social stability and support for citizens. The fund expressed gratitude to the banks for their contributions, emphasizing the importance of collaborative efforts in enhancing the financial well-being of retirees in the UAE.