Personal debt to banks averages US $ 11 thousand per capita in the UAE.
Dubai, UAE. The average resident of the UAE owed banks about 42.5 thousand dirhams, or US $ 11.5 thousand, according to the report of the National Bank of Abu Dhabi for the third quarter of 2016. This indicator slightly exceeds the indicators of the third quarter of 2015, when the load in the form of debts on credit cards, car and other loans averaged 41.2 thousand dirhams (US $ 11.2 thousand) per capita of the United Arab Emirates.
In total, the population of the UAE owed banks 434.2 billion dirhams (US $ 120 billion), of which 138.9 billion (US $ 38 billion) are personal loans, including consumer loans, and another 295.28 billion dirhams (US $ 81.5 billion) make loans to companies.
According to the Central Bank of the UAE, at the end of 2016 there was a slight decline in the provision of loans, both for business and personal, but with the onset of the current year the situation stabilized, which was a reflection of a slight increase in oil prices.
It should be noted that last year the concern of small and private businesses was caused by tightening the rules for granting loans - in particular, we are talking about collateral for loans with high risks. This practice will continue in the first quarter of 2016, however, perhaps in a less stringent form, the National Bank of Abu Dhabi said in a statement.
