The UAE Central Bank announced on Sunday the approval of a new set of regulations with regard to bank loans and other services offered by the banks enabling individual customers to borrow up to 20 times their salary or monthly income.
"The value of the loan is tied-up to the borrower's income. The repayment period is set at 48 months, which is sufficient for repayment," the Central Bank said, adding the new regulations cover car loans, overdraft facilities and credit cards and require the banks to disclose the interest rates they charge on loans and facilities.
For more information visit Gowealthy
0 comments:
Post a Comment