U.A.E.’s Card Industry Grows Between 2008 And 2012
The U.A.E.’s card industry has risen by 7.18 percent between 2008 and 2012, mostly driven by the increased use of prepaid cards in the country, reports BankCreditNews.com. The U.A.E. government has been trying to reform the economy through developing financial institutions, trade and businesses. The prepaid card industry reported a 13.33 percent growth during the four-year period, and debit cards grew by 8.19 percent. Credit cards had a comparably small growth of .92 percent. The U.A.E. card industry is expected to grow 5.56 percent by 2017, and the U.A.E. government will continue to promote card growth through introducing new products and services to satisfy customer needs.
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