UAE banks are being forced to relax debt repayment plans in a bid to recoup outstanding loans from debtors who have skipped the country.
Heavily exposed lenders are accepting more realistic payment plans and using threats of jail less frequently for debtors still residing in the country, the founder and author of Detained in Dubai has told Arabian Business.
“The banks are more approachable to the payment plans that they weren’t approachable for in 2009-2010, said Radha Stirling.
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