Almost 75% UAE residents in debt to banks

Tuesday, 24 November 2015 14:28

Some 73% of UAE residents are in debt to their banks. That’s the latest figure to come from a compareit4me.com survey, which reveals credit cards top the list at 57.2%. Of those polled, 45% admit dealing with their debt is highly stressful but almost all are planning to spend more as the festive season approaches. The report also details how 15.8% of respondents have made late payments, or even missed them completely. Jon Richards, CEO of compareit4me.com, shares how banks in the UAE are adjusting to assist consumers with bad debt.

Listen

More from Local News

Abu Dhabi identifies over 40 modern heritage sites

Abu Dhabi has listed more than 40 modern heritage sites that require immediate protection and preservation.
Distribution of aid from UAE's Saqr Humanitarian Ship begins in Gaza

Teams from the UAE's Operation Chivalrous Knight 3 have started distributing the first batch of aid from the UAE's Saqr Humanitarian Ship to northern Gaza.
Dubai to expand bus and taxi lanes as public transport ridership grows by 7.4%

Dubai’s Roads and Transport Authority (RTA) has announced plans to expand bus and taxi lanes as public transport ridership touched 802.1 million in 2025, marking a 7.4 per cent growth from 747.1 million riders in 2024.
Emir of Qatar welcomed by UAE President on visit to Abu Dhabi

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held talks in Abu Dhabi on Saturday with His Highness Sheikh Tamim bin Hamad Al Thani, Emir of Qatar.
UAE, Egypt Foreign Ministers discuss Gaza peace plan

Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, and Dr. Badr Abdelatty, Minister of Foreign Affairs, Emigration, and Expatriates of Egypt, have discussed the importance of implementing all phases of US President Donald Trump's Gaza peace plan.
UAE, Pakistan leaders discuss boosting economic ties

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has held talks with Pakistan’s Prime Minister Shehbaz Sharif on strengthening economic and development cooperation between the two countries.
UAE, Bosnia FMs discuss strengthening bilateral relations

His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, and Elmedin Konaković, Minister of Foreign Affairs of Bosnia and Herzegovina, have explored prospects for strengthening bilateral cooperation during a telephone conversation.
H.H. Sheikh Mohammed launches campaign to rescue 5 million children from hunger

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the 11.5: Edge of Life Ramadan campaign to rescue 5 million children around the world from hunger.
Dubai advances measures to support people of determination

Dubai is advancing new measures to support people of determination, with initiatives aimed at enhancing their rights, services and community inclusion.
Abu Dhabi Crown Prince to lead UAE delegation at AI Impact Summit in India

On behalf of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, will lead the UAE delegation to the India AI Impact Summit in New Delhi from February 16 to 20.
Over 14 million Captagon pills, hidden in grain sacks, seized in UAE–Kuwait operation

Teams from Dubai Police and Kuwait have successfully dismantled an international drug trafficking network and foiled an attempt to smuggle more than 14 million Captagon pills inside sacks of corn grains.
Remote learning on Fridays during Ramadan for UAE public schools

The UAE’s Ministry of Education has announced that public school students will switch to remote learning on Fridays during the holy month of Ramadan, marking the second consecutive year of the initiative.
UAE clarifies enrollment rules for British curriculum schools

The UAE’s Ministry of Education has given parents planning to enroll their children in British curriculum schools the option to assess their child's readiness to join Foundation Stage 1 (FS1) if they do not turn three by the start of the 2026-2027 school year.
UAE announces temporary road closures in Al Dhaid

The Ministry of Energy and Infrastructure has announced the temporary closure of Al Dhaid Road Bridge No. 7 on Emirates Road for construction works in two phases.
Umm Al Emarat aid ship sets sail for Gaza Strip

The UAE has dispatched a new aid ship to the Gaza Strip as part of its ongoing humanitarian efforts to support the Palestinian people, coinciding with the start of the holy month of Ramadan.
UAE announces Ramadan working hours for private sector

The UAE’s Ministry of Human Resources and Emiratisation has confirmed that private sector employees will have their working days reduced by two hours during the holy month of Ramadan.
H.H. Sheikh Hamdan highlights nation’s defence vision at naval college ceremony

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister, attended the graduation ceremony of the 26th cohort of the Rashid Bin Saeed Al Maktoum Naval College in Abu Dhabi on Thursday.
Members of UAE's National Identity Committee unveiled

The National Identity Committee has been established under a decision issued by Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs.
Ramadan working hours confirmed for UAE public sector

The UAE's Federal Authority for Government Human Resources has announced the official working hours for federal entities during the holy month of Ramadan.
Kazakhstan crowned champions of UAE SWAT Challenge 2026

Team Kazakhstan 'C' has walked away with a prize money of $80,000 after being crowned the overall champion of the seventh edition of the UAE SWAT Challenge 2026. They secured a total of 536 points.

News

Abu Dhabi identifies over 40 modern heritage sites
Abu Dhabi has listed more than 40 modern heritage sites that require immediate protection and preservation.
Distribution of aid from UAE's Saqr Humanitarian Ship begins in Gaza
Teams from the UAE's Operation Chivalrous Knight 3 have started distributing the first batch of aid from the UAE's Saqr Humanitarian Ship to northern Gaza.
Dubai to expand bus and taxi lanes as public transport ridership grows by 7.4%
Dubai’s Roads and Transport Authority (RTA) has announced plans to expand bus and taxi lanes as public transport ridership touched 802.1 million in 2025, marking a 7.4 per cent growth from 747.1 million riders in 2024.

Almost 75% UAE residents in debt to banks

More from Local News

News

Our Shows

Quick Links

Listen on the Go

Almost 75% UAE residents in debt to banks

Share

More from Local News

News

Our Shows

Quick Links

Listen on the Go