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 UAE News

UAE fines 42 domestic worker recruitment firms for violating rules

As many as 42 domestic worker recruitment offices in the UAE have been penalised for breaking employment rules during the first half of 2026.
Dubai's RTA expands e-bike delivery service to seven new areas

Dubai's Roads and Transport Authority (RTA) has expanded e-bike delivery service to seven new areas, including Dubai Media City, Jumeirah Lakes Towers and Dubai Marina, to boost connectivity.
UAE condemns Israeli settler attacks in occupied West Bank

The UAE has strongly condemned attacks by Israeli settlers on villages in the occupied West Bank, calling on the Israeli government to hold those responsible accountable.
President commends global humanitarian efforts of UAE Search and Rescue Team

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has commended the Abu Dhabi Civil Defence Authority’s UAE Urban Search and Rescue (USAR) Team for retaining the certification from a UN-affiliated agency for its response capabilities.