Most central banks in the Gulf follow US Federal Reserve policy, since their currency is pegged to the US dollar. In the United Arab Emirates, the Central Bank’s base rate is also anchored to the US Federal Reserve.
Unlike in many Western countries, there is no time limit to when consumer credit can be written off in the United Arab Emirates. Indeed, one of the idiosyncrasies of the local market is that the vast majority of residents are expatriates (90%), with the possibility that they can obtain consumer credit before returning to their home country.
One of the unique conditions of the United Arab Emirates is that it is heavy reliant on a steady stream of inbound guest workers. Despite official hiring quotas for Emiratis, Dubai’s private sector workforce is comprised of 98% foreigners.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in United Arab Emirates with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in United Arab Emirates, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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