In dollar terms, the volume of personal consumer loans in the United Arab Emirates was marked by a significant growth, and at the end of November 2021, the total volume of outstanding loans for personal consumption reached 339.36 billion dollars. This indicator is the highest since April 2020 and has grown by 1.9% compared to October.
Experts note that the increase in consumer demand and the recovery of the economy after the coronavirus pandemic have influenced the growth of the volume of issued loans to the population. Instead, banks in the country closely monitor the issuance of loans and conduct necessary analyses of borrowers to mitigate possible risks.
"Such growth in outstanding personal loans is associated with the gradual recovery of the country's economy after the pandemic and the rising consumer demand. Banks strive to balance their operations, considering risks and adhering to necessary standards," financial experts highlighted.
