Sharjah approves AED72 million in debt settlement for citizens

More than AED 72 million in debt have been settled for UAE nationals living in Sharjah.

It's the latest in a batch of payments ordered by His Highness Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.

Earlier this week the UAE cabinet approved a new insolvency law to support individuals facing financial difficulties.

It will protect them from legal prosecution and offer them an opportunity to work and be productive.

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