Kuwait's parliament approved a plan on Wednesday to buy some citizens' personal loans, write off the interest and reschedule repayments.
Finance Minister Mustapha al-Shamali said on Tuesday the government was expecting to
UAE-based Mashreq, a leading financial institution, has announced a new tailor-made bundled personal loan proposition, with every loan applicant receiving a free iPad Mini (16GB) Wi-Fi.
The loan, which can be availed in 24 hours,
Oman will reduce the maximum interest rate for bank-issued personal loans to 7 per cent from 8 per cent from next month, the country's central bank said on Sunday.
'To reduce the financial burden on borrowers and to encourage banks
Emirates NBD, a leading bank in the region, has launched three new variants of its personal loan offering to customers aimed at enhancing their access to finance and boost the bank's loan portfolio.
These new options significantly ease
Commercial Bank International (CBI), one of the leading banks in the UAE, has unveiled a new promotion offering personal loans with an interest rate of 6.75 per cent per annum.
As part of the promotion, customers will enjoy zero processing
Personal loans extended by United Arab Emirates banks fell 10.9 percent in April compared with the end of last year, while the gap between loans and deposits narrowed over the same period, central bank data showed.
Outstanding personal loa
The personal loans registered a 11 per cent jump in three months from Dh43.5 billion ($11.8 billion) at the end of 2007 to Dh48.4 billion ($13.2 billion) during the first quarter of 2008, according to the UAE Central Bank.
According to rep