Emirate's debt review panel has so far paid off the nearly $50m owned by 492 citizens wanted or convicted in financial cases
In line with the directives of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, the committee tasked with settling debts of citizens in the emirate of Sharjah has approved an amount of AED 60.1 million ($16.3 million) to pay off the debts of 111 defaulters.
This is the ninth batch of defaulters to have their debts settled by the committee.
Rashid Ahmed bin Al Sheikh, chief of the Emiri Court and head of the committee, said the panel would pay the debts of persons who are wanted or have been convicted in financial cases, and also of other defaulters, including those who have deceased.
He revealed that the committee had so far paid debts of 492 defaulters to the tune of AED185.9 million.
Lucky children of the state.