Debt fears mount as lending growth doubles in UAE - The National:
"Consumer lending growth has doubled across the Emirates as a wave of credit-fuelled spending triggers warnings over excessive borrowing.
Credit cards and borrowing to buy cars drove up profits for UAE banks reporting earnings this week after consumers took out loans worth Dh9.8 billion more during the first five months of the year, already matching the increase for the whole of 2012. If present rates of growth continue, 2013 is on track to record twice as much new borrowing as last year."
'via Blog this'
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