Almost 75% UAE residents in debt to banks

Tuesday, 24 November 2015 14:28

Some 73% of UAE residents are in debt to their banks. That’s the latest figure to come from a compareit4me.com survey, which reveals credit cards top the list at 57.2%. Of those polled, 45% admit dealing with their debt is highly stressful but almost all are planning to spend more as the festive season approaches. The report also details how 15.8% of respondents have made late payments, or even missed them completely. Jon Richards, CEO of compareit4me.com, shares how banks in the UAE are adjusting to assist consumers with bad debt.

Listen

More from Local News

'Dubai-it' initiative to embed Dubai’s work philosophy across generations

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has announced the launch of the 'Dubai-it' initiative, aimed at passing Dubai’s work philosophy to future generations and embedding it across institutions and companies.
UAE President calls for stronger global cooperation at G7 Summit

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has participated in the 52nd G7 Leaders’ Summit in Évian-les-Bains, France.
Abu Dhabi offers 'innovative' precision therapy to treat advanced breast cancer

Abu Dhabi will now offer a more targeted breast cancer treatment for patients in advanced stages and resistance to conventional hormone therapy, giving them renewed hope and a better quality of life.
UAE foils drug distribution plot, dismantles criminal network

The National Anti-Narcotics Authority, in coordination with Ras Al Khaimah Police and other security agencies, has foiled a plan to promote and distribute narcotic substances inside the UAE.
Sharjah unveils projects worth AED750 million for direct road links to Dubai

His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has announced a series of projects worth AED750 million that will link internal and main roads between Sharjah and Dubai.
UAE President meets US President on sidelines of G7 Summit

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has met with US President Donald Trump on the sidelines of the G7 Summit in Évian-les-Bains, France.
UAE President, Greek PM discuss strategic cooperation

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has discussed strengthening strategic partnerships in key sectors with Greek Prime Minister Kyriakos Mitsotakis in a phone call on Tuesday.
Emirati Media Forum to address misinformation, AI and industry transformation

The 11th Emirati Media Forum will take place on June 22 in Dubai, bringing together industry leaders, editors, writers, content creators and social media influencers.

Blogs

Radioactive in conversation with Akhil Kavalayoor
Latest With Hit

Akhil Kavalayoor live on Radio Active
Grooving to the new weekend anthem!!
Latest With Hit

Watch Dona & Jean as they grove to SakkathaGavle !
AI Training with Raul John Aju
Latest With Hit

Ted X speaker, AI trainer Raul John Aju giving us AI lessons.

Almost 75% UAE residents in debt to banks

More from Local News

Blogs

Our Shows

Quick Links

Listen on the Go

Almost 75% UAE residents in debt to banks

Share

More from Local News

Blogs

Our Shows

Quick Links

Listen on the Go