The key priority is to remove any concern about margin calls, the report adds
The Dubai Crown Prince has issued directives to offer additional financial assistance to over 1,100 minors before the start of the new academic year. The Dubai Community Development Authority said the financial assistance would be delivered by the end of August 2022.
The additional financial assistance is a part of the Higher Committee for Development and Citizens Affairs' efforts to support minors with limited incomes.
Ahmad Abdulkarim Julfar, director-general of the Community Development Authority, said: "The directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, reflect the keenness of Dubai's wise leadership on providing all ways of support for citizens. The directives come before the beginning of the new academic year, aiming at supporting our minors and helping Emirati families reduce financial burdens."
Earlier this year, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, had established the Higher Committee for Development and Citizens Affairs' headed by Sheikh Hamdan. The committee aims to ensure long-term social, family and demographic stability for citizens and boost their quality of life.
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During its first meeting in June, it increased financial support for limited-income citizens in Dubai to 58 per cent to reach Dh438 million. Additionally, it approved a 42 per cent increase in financial benefits for low-income citizens to reach a total of Dh394 million.
In July, the committee approved social benefits worth Dh44 million for people of determination among citizens in Dubai. In the same month, it approved immediate allocation of 2,000 residential land plots at Umm Nahad Fourth area.
The key priority is to remove any concern about margin calls, the report adds
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