The volume of personal loans granted to GCC nationals surpassed SR1.33 trillion ($355 billion) in the first quarter of 2013, a report said.
UAE topped the list with personal loans at SR530.6 billion, followed by the Saudi Arabia a
Commercial bankers in the UAE have asked the central bank to remove a ban on transfers between banks of personal loans to local citizens, a body representing the lending industry said on Monday.
Enjoying a cradle-to-grave welfare
There is tremendous opportunity for banks and financing institutions as almost 50,000 UAE-based small and medium enterprises (SMEs) are on the lookout for additional capital and financing, according to a report.
Emirates Money, a wholly
The United Arab Emirates' central bank has told lenders to extend maturities on certain personal loans held by UAE citizens by more than four years, the latest initiative aimed at reducing their debt burdens.
In a circular sen
The UAE central bank has directed lenders in the Gulf state to help reduce the debt burden of UAE nationals, with some bankers saying banks may have to write off certain personal loans.
The central bank, after a review of personal loans,