Abu Dhabi Introduces Interest-Free Marriage Loans for Young Emirati Couples
The Abu Dhabi Social Support Authority (SSA) has launched the Marriage Loan initiative as part of the Abu Dhabi Family Wellbeing Strategy and the Emirati Family Growth Programme. This initiative aims to enhance the quality of life for families, youth, and parents by providing interest-free loans up to AED150,000 to newly married UAE Nationals.
The initiative is designed to help young couples build their marriages on a secure financial foundation, encouraging them to marry in accordance with UAE’s heritage and wedding traditions. Abdulla Al Ameri, Director-General of SSA, emphasized the government’s dedication to strengthening family cohesion and social bonds.
Ahmed Al Azeezi, Executive Director of the Social Support Applications Sector at SSA, highlighted that the initiative aligns with efforts to strengthen Abu Dhabi’s social care system. The Marriage Loan initiative is available to newly-wed UAE Nationals, provided the husband holds a Family Book issued in Abu Dhabi, is at least 21 years old, and his wife is at least 18 years old at the time of marriage. The husband’s monthly employment income must be less than AED60,000, and registration must be confirmed on the Medeem Digital Platform.
Applications for the Marriage Loan will be accepted from early September 2024, with SSA announcing the required documentation and service channels soon.
Doubts Revealed
Abu Dhabi -: Abu Dhabi is the capital city of the United Arab Emirates (UAE), a country in the Middle East.
Interest-Free Loans -: Interest-free loans are loans where you don’t have to pay extra money (interest) on top of what you borrowed.
Emirati -: Emirati refers to people who are citizens of the United Arab Emirates (UAE).
AED -: AED stands for Arab Emirates Dirham, which is the currency used in the United Arab Emirates.
Abu Dhabi Social Support Authority -: This is a government organization in Abu Dhabi that helps people with financial and social support.
Abu Dhabi Family Wellbeing Strategy -: This is a plan by the Abu Dhabi government to make sure families in the city are happy and healthy.
Emirati Family Growth Programme -: This is a program to help Emirati families grow and become stronger, both financially and socially.
Abu Dhabi family book -: This is an official document that proves a family is from Abu Dhabi.
