UAE residents searching finance's finer details

Dramatic rises in enquiries on ‘free for life’ credit cards and Islamic finance loans
UAE residents searching finance's finer details
Image for illustrative purpose only. (Getty Images)
By Staff writer
Thu 23 Jun 2016 09:46 AM

More UAE residents are searching online for the finer details of finance, according to a leading comparison site.

Detailed searches on credit cards and personal loans grew in the first quarter of 2016, compared with the same period in 2015, according to finance comparison site.

The number of enquiries on mortgages that don’t require salary transfer were up by 450 percent. Other areas of major growth were Islamic finance loan enquiries, up by 240 percent, and Islamic finance mortgage searches, up 380 percent.

Visitor searches for cashback and air miles benefits in Q1 of the year were up by 500 percent and 367 percent respectively year-on-year. Searches for “free for life” credit cards were up 543 percent.

“Global studies show that better financial literacy is one of the best ways to close wealth gaps between different segments of society,” said compareit4me CEO Jon Richards.

This boost in people taking their finances into their own hands can only be a good thing. This shows that people are becoming more confident in their ability to manage their current finances and orchestrate their financial future – which is essentially the aim of our site.”

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