Ideally, people ensure their loan commitments are at manageable levels as a percentage of their salary. However, with COVID-induced pay cuts, some people are paying as high as 80% of their salaries to...
The Challenge Facing Borrowers who Have Left the UAE Expats who had steady income pre-COVID-19 suddenly found themselves in an unpleasant situation due to the pandemic. They had either lost their jobs...
When you issue a cheque to someone, you are expected to honour it. A bounced cheque falls under criminal law in the UAE and can lead to fines and penalties. Bounced cheques can also lead to civil proc...
When COVID-19 hit the UAE’s economy, like the rest of the world, one of the badly affected sections was those who had planned to start their new business. People had exhausted their savings or even ta...
Like all markets, the real estate markets experience growth and slowdown. During rapid economic growth, less real estate is available for buyers as too many people with funds are chasing the same rea...
For any mid-corporate or SME in the UAE struggling with debt, things can get pretty challenging. Several questions float in the minds of such companies. For example, when do they become eligible for b...
It is widely known that small and medium enterprises (SMEs) play a vital role in the UAE’s economy. While SMEs make up 95% of UAE’s companies and employ 86% of the country’s workforce , many find it h...
People in debt have many questions and doubts about getting freedom from debt. Things get particularly difficult when incomes are affected, as is the case with COVID-19-related job losses or pay cuts....
While the UAE economy is recovering from COVID-19, it will be a while before the economy reaches pre-COVID levels. According to the Federal Competitiveness and Statistics Centre, the UAE’s economy shr...
When people are in financial difficulties, such as increasing debt burden due to loss of income, it can be a major source of stress. In such times, people are susceptible to falling into a debt trap. ...