Debt continues to increase in the U.A.E., but consumers are still opting to use credit cards to make payments, reported The Gulf News. Cash withdrawals are dropping, while banks confirmed credit cards are back on the rise. U.A.E. customers shied away from using credit in fear of debt problems, but this trend is beginning to fade.
“In the last two or three years after the debt crisis, people are becoming more open to sign up for a credit card. There has been a growing number of customers applying for credit products. I think this is largely driven by the overall positive sentiment in the economy,” a U.A.E. bank told Gulf News.
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