Golden moment for debtors
Jewellery merchant pays Dh150,000 to free 132 from jail
DUBAI // A billionaire gold merchant has paid Dh150,000 to release 132 prisoners from Ajman central jail.
Firoz Merchant, founder and chairman of Pure Gold Jewellers, vowed to spend Dh3.8 million this year paying off the debts of prisoners languishing in the country’s jails.
The Indonesians, Indians, Pakistanis, Philippines, Uzbeks, Bangladeshis, Sri Lankans, Nepalis, Ethiopians, Syrians, Yemenis and Ghanaians were behind bars as they were unable to clear debts despite completing their jail terms. They will be released shortly. “These prisoners are victims of circumstances and are not real criminals,” said Mr Merchant. “They are in jail because of debt-related cases.
“Last year was a challenging year for many people who have to suffer jail terms because of cheque bounces and non-availability of cash to pay dues. That is why I decided to pay off their debts and provide air tickets to go back home and be united with their families.”
The 58-year-old businessman began clearing prisoners’ debts in 2008 and in that time has spent more than Dh9m to release 4,500 prisoners.
“We are taking only applications who are forwarded by the jail authorities ,” he said. “We are helping those whose cases are evaluated and recommended by the authorities. We are helping people as per law of the land.”
The prisoners are also helped once they arrive back in their home countries, Mr Merchant said, with an extra Dh100 to be used for train or taxi fare.
“Most of these prisoners told us that when they are released they have no money to reach home. They land in their country, they have to take another journey by car or train. Therefore, apart from providing air tickets, we decided to give them transport expenses.”
Mr Merchant, who is from In- dia, began his gold business in 1989. It is now worth more than Dh3.67 billion ( US$ 1bn) and employs 5,000 people in the Gulf region and India.