Banks would rather lend to Emiratis

Banks would rather lend to Emiratis

And we’re pretty sure most people would feel the same way, when you consider that one fifth of expats can’t pay their bills. Kipp looks into it.

July 29, 2010 3:01 by Sam Potter

These figures chime with the news a few days ago that one in every seven crimes committed in Dubai last year involved bounced cheques. Landmark property agency to start accepting rent payments by credit card for some units. It would transfer the loss from the landlord or property company (holding a worthless cheque), to the bank or credit card provider (not receiving repayments).

Yet another reason for banks to target affluent and solvent Emiratis (who, incidentally, are less likely to be renters) ahead of unstable expatriates.

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