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

UAE crew continues quake relief operations in Afghanistan

A team from the UAE Joint Operations Command continues its humanitarian mission to support those affected by the deadly earthquake that killed over 2,200 people and left thousands displaced in eastern Afghanistan.
UAE President, Sultan of Oman reaffirm support to safeguard Palestinian rights

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Sultan Haitham bin Tariq Al Said, Sultan of Oman, have underscored that the two-state solution is the only viable path to achieve a just and comprehensive peace in the region.
UAE and Qatar sign MoU to boost labour, HR cooperation

The UAE and Qatar have signed a Memorandum of Understanding to boost cooperation in labour and human resources development.
Arab League endorses Egyptian-Saudi vision for regional security

The Council of the League of Arab States has adopted a resolution supporting a joint Egyptian-Saudi initiative aimed at boosting regional security and cooperation.
New traffic diversions announced for Dubai Metro Blue Line works

Dubai's Roads and Transport Authority (RTA) has announced new traffic diversions as construction begins on the Dubai Metro Blue Line project.

On Virgin Radio today

Non Stop Hits
3:00am - 7:00pm

The UAE's #1 Hit Music Station with no interruptions
The Fix With Dany Neville
7:00pm - 11:00pm

Officially the UAE's favourite DJ, Dany Neville makes sure you have the soundtrack you need every Saturday night.

Trending on Virgin Radio

If Craig David had a verse on Azizam
The legendary Craig David joins The Kris Fade Show for an unforgettable chat!
Middle East Hot 30
Every weekend Kris Fade plays the biggest tracks in the Middle East. Check out this weeks chart...
Bassem Youssef
One of the most talked about comedians in the world takes over The Kris Fade Show. Watch the full interview here...
Untold Dubai
It arrived: The UAE's First Mega Music Festival at Expo City Dubai!