Sunday, July 14, 2024

Al Habtoor throws a lifeline to detainees in debt with the launch of ‘reunion’

by The Media Office

Khalaf Ahmad Al Habtoor launched a new initiative today with Dubai Police to assist prisoners in Dubai who have been detained over bad debt due to failed businesses or the inability to pay alimony in divorce settlements. The details of the ‘Reunion’ initiative were unveiled in a meeting with His Excellency Major General Expert Khalil Ibrahim Al Mansouri, Assistant Commander of CID, at the Al Habtoor Group head office on Monday 2 April 2018.

‘Reunion’ aims to reunite families who have been separated by detention over default on loans or unpaid alimony. The initiative provides financial aid to settle the debt of certain prisoners with the intention of releasing them from jail to ensure they can secure a job for the future and provide for their families.

Al Habtoor said, “Detention is not always the best solution,” he said. “A child needs a father at home, a wife relies on her husband to be a role model or to provide for the family. In cases of alimony, a father who is in prison due to lack of funds cannot provide for his family if he is in jail. He needs a job to earn a salary so he can meet his obligations.”

The Al Habtoor Group Chairman said that circumstances may not be conducive for a business to flourish which can result in the lack of liquidity and inability to pay what’s owed.

“You must learn from your failures as much as your successes. I am a great believer in this. I have failed in business several times in the past. This is what made me stronger and more determined to succeed.”

He added, “As long as you run a company with transparency, honesty and ethics then I believe you have given it all you can. Unfortunately, external factors come into play in some cases like the global financial crisis, or teaming up with the wrong partner, or hiring untrustworthy people. This is unavoidable at times. As human beings, we always see the good in people. Past failures should teach people to always be cautious. Don’t over committed or over borrow. You have to take risks in business, but only calculated risks.”

“Banks also have to take their share of responsibility. It is imperative that banks do not over lend. I urge them to conduct a thorough due diligence with every loan application to ensure that all the necessary precautions are in place to permit the individual to repay their loans,” he cautioned. Al Habtoor said, “I am launching the ‘Reunion’ initiative because I believe people should be given a second chance. As long as they are disciplined and are honest human beings with sound business practices. Decisions will be taken on a case by case basis.”

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