#Dubai's MAF explores partial credit card business sale in review: sources - Reuters

Dubai's MAF explores partial credit card business sale in review: sources - Reuters:

Dubai’s Majid Al Futtaim, which operates the Middle East franchise of French retailer Carrefour, is exploring options for its credit card business including enlisting partners to manage unsecured credit risk, two banking sources told Reuters.

The economy in Dubai is suffering from sluggish growth due to a real estate downturn and slowing global trade, hitting white-collar jobs and consumer spending.

MAF, a holding company which also owns and operates shopping centers in the Middle East and North Africa, hired U.S. investment bank Moelis & Co at the start of the summer to advise and manage the partial sale of its Najm credit cards, said the sources, who declined to be named.