ArabianBusiness.com - Middle East Business News
Wednesday, 03 December 2008 07:23 UAE time

YOUR DIRECTORY /

Print this page Print this page | Email this to a friend Email this to a friend | Discuss this article (1 Comments) |

UAE personal loans jump 46% in year to June

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 01 September 2008
MARKET REGULATOR: Library photo of the UAE central bank building in Abu Dhabi. (Getty Images)

Consumer loans in the UAE have increased 46 percent during the past 12 months, according to data from the UAE Central Bank.

The latest data on bank loans and money supply in the country and published on the bank's website showed that personal loans rose to Dh54.02 billion ($14.68 billion) at the end of June 2008 compared to Dh36.80 billion in June 2007.

The data are estimates and subject to revision.

Bank data also showed that consumer loans have risen more than 73 per cent since the end of 2006 and almost doubled during the past four years.

Story continues below
advertisement

The strong growth in personal loans is seen as a moajor contributary factor to higer inflation and the central bank recently raised the possibility of placing limits personal loans.

Print Print | Email Email | Discuss this article |


READERS' COMMENTS



Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code * Code


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

 EMAIL ALERTS

  1. Personal Finance



EMIRATES ID DOWNLOAD

READER COMMENTS

Read all user comments >

BUSINESS FEATURES

Banks hoard Fed cuts

Regional mortgage lenders are refusing to pass falling US interest rates on to customers in the emirates.

Hedge funds prowl Japan's Ashiya City

Why the place is a feeding ground for hedge funds tapping the wealth of people like Kunihisa Sagami.

Vanishing act

Customers of UK building society Bradford and Bingley ask where's safest as banks continue to vanish.

BUSINESS INTERVIEWS

JP Morgan seeks growth in KSA market

Ghassan Abdul Karim explains why the kingdom is a crucial part of the company jigsaw in the Gulf.

Why there's life after Lehman

As global markets go into freefall, where will sovereign funds be looking next? Makram Azar explains.

Eyeing African investments

Wessel Witthuhn of IFA discusses the company's on-going hospitality investment plans in the region.

MORE FROM ARABIANBUSINESS.COM