The UAE central bank has directed lenders in the Gulf state to help reduce the debt burden of UAE nationals, with some bankers saying banks may have to write off certain personal loans.
The central bank, after a review of personal loans, found that UAE nationals were paying high repayment installments, it said in a statement.
"To alleviate the financial burden on UAE nationals, the board instructed further study and more cooperation and coordination from concerned agencies in order to find solutions," the statement said.
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