Loans in Dubai and all over UAE
Loans in UAE is extended to employees as well as to self employed professionals. Banks look at the income as well as the repayment capability an individual has before extending personal loans in Dubai. The interest rate and the tenor of availing loans in UAE depends upon the employer/company background and the loan seeker's exiting debt.
Before applying for personal loans in Dubai, one has to be absolutely certain about the requirement of the loan and its end use. If you are very well planned with your financial matters, you would take a loan to invest in something that would yield better returns than the interest you pay for the loan. However, in most other cases people borrow for meeting their lifestyle expenses and Dubai being a city of choices has a lot to offer for spending money! Personal Loans, Credit Cards, Car Loans and Mortgage is offered by multiple providers in the UAE and MoneyGulf is here to help you choose the right bank for your personal financial needs.
We aim to provide the latest information in terms of best interest rates offered by banks for you to compare rates. You also have the choice of applying for a loan from multiple banks by filling out the form on the left of this page. We would provide the details to all banks/bankers registered with us and you can choose the best offer and the fastest offer made by the bank/financial institution
Why inclusion of personal finance management in UAE’s public school curriculum is a step in the right direction?
The UAE Ministry of Education has recently taken a decision to embed financial literacy into the national curriculum and introduce Personal Finance Management (PFM) as a mandatory subject in the country’s revised public school syllabus from the coming academic year in a bid to battle disturbing debt trends among youth.
To accomplish this goal, the Ministry of Education has collaborated with Emirates Foundation for Youth Development (EFYD) and has signed an agreement on April 16 with regard to the new syllabus and relevant modules under the Educational Curriculum Initiative. EFYD is an independent philanthropic organization established by the Abu Dhabi government for development of youth....
Is it okay for an expatriate who is unfamiliar with the Sharia Law to avail a loan from an Islamic bank?
When someone is planning to avail a loan from a bank to buy an asset, the points he should invariably take into account are the following:
1. Interest or profit rate charged on that loan
2. Aggregate cost of the loan including the loan processing fee
3. Terms and conditions applicable to the loan
4. Service-orientation of the bank
5. Ethics and related policies of the concerned bank...
What are the alternative sources of funding for SMEs that find it tough to get bank loans in UAE?
In our last article, we explained why bank lending to small and medium enterprises (SMEs) is very low in the UAE. In this article we shall discuss the alternative sources of funding available to entrepreneurs desiring to start, finance and grow their SMEs in the country. Obviously, the government is the main player in this sector and some of its initiatives, programs and policies represent the best and safest sources of funding for SMEs. One such government body that immediately comes to mind is the Khalifa Fund for Enterprise Development (KFED). Besides offering financial services, it also provides advisory and counseling services to the concerned SMEs....
Why bank lending to SMEs is very low in the UAE?
A survey of more than 700 small and medium enterprises (SMEs) conducted in the UAE has shown that 83% of them have no access to bank loans. Similarly, a panel discussion held at the SME World 2014, a two-day summit organized in Dubai on March 26 and 27, 2014 revealed that bank loans to the SMEs across the UAE adds up to just 4% of the total lending as compared to double digit figures in the developed world. This may sound shocking when one realizes that 90% of the companies registered in Dubai are SMEs...
How are sukuk different from conventional bonds?
Sukuk (plural of Arabic word sakk meaning certificate) are Islamic bonds, which are asset-based securities. Those who purchase sukuk are rewarded with a share of the profits derived from the asset. They don’t earn interest payments because of the Islamic ban on interest. However, conventional bonds are debt instruments and the investor receives an interest payment or coupon, against their investment...
MoneyGulf.Com publishes white paper on “If Dubai wins its bid to host World Expo 2020, how will it benefit me as a Dubai resident?”
Lately, the World Expo 2020 has been all over the news because a decision will be made by the Bureau International des Expositions’ (BIE) member countries at the General Assembly on 27 November 2013 with regard to which city has been selected to host the event. While Dubai, which has officially bid to host this six-month exposition, is anxiously awaiting the decision, the local residents are wondering as to how they stand to gain if their city wins the bid following the 27 November announcement...
MoneyGulf.Com publishes its research on “Is it the right time to buy a property in Dubai or is it another bubble?”
After a devastating crash between 2008 and 2011 that saw property prices plummeting by around 65%, lately the property market in Dubai has rebounded strongly. Consequently, the real estate prices are now booming and have recovered by about a third since reaching a bottom in 2011. This has set most people wondering whether this boom will last or is it another property bubble waiting to burst.....
MoneyGulf.Com publishes its research on “Seven effective habits of financially successful people”
All of us aspire to become financially successful. However, many of us are clueless about how to become one. It has been observed that more than anything else, it is one’s habits and actions that eventually bring him success in any field. And it turns out that financially successful people also have some powerful habits in common. We, therefore, decided to compile a list of shared habits of the financially successful people so that those desiring to tread the same path can imbibe them and eventually translate their dream into reality. Below are the top seven habits from that list....