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UAE banks agree on “mini insolvency law” to help struggling SMEs

UAE banks have agreed to halt criminal prosecutions for bounced cheques drawn by small to medium-sized business customers under a “rescue initiative" launched by...

88% of affluent people living in UAE have credit obligations

Survey shows improvement in the levels of awareness of the Bureau and Credit Reports Credit cards are most common form of credit, followed by...

Newcomers to UAE can now benefit from consumer finance products

Complete consumer financing solution includes Personal and Vehicle finance, Credit cards, accounts and online banking Focus on customers with less than six month stay in...

Small business finance in the search of innovative solutions

Alternative Financing - the small business finance alternative during economic uncertainty As a consequence of the distressed and even recovering economy, few commercial lenders are...

Banks offer free air tickets with personal loans

Applies to customers availing personal finance of AED 75,000 and above Includes instalment deferment of up to 60 days, free credit life Takaful insurance and...

UAE President orders settlement of loans of citizens

President His Highness Sheikh Khalifa bin Zayed Al Nahyan has ordered settlement of defaulting personal loans of citizens whose debts are less than AED...

UAE Consumers on Spending Sprees

Deposits decreased, loans increased The UAE Central Bank today announced that money supply M0 (currency in circulation + currency at banks) increased by 0.4%, from...

UAE Central Bank’s governor calls for reduced interest rates on loans

Sultan bin Nasser Al Suwaidi, Governor of the UAE Central Bank has called on the banks operating in the country to cut interest rates...

UAE banks must refrain from offering loans over the phone

In recent news and regulations issued from the central bank of the UAE, another restriction has been implemented on the banking sector. All banks must...

Central Bank approves regulation for classification of loans

The Board of Directors of Central Bank of the UAE held its 6th meeting for the year under the chairmanship of Khalil Mohammed...