Irregularity in the economy can affect debt management in a major way especially in an emerging economy such as the UAE. As observed, the country grossly depends on oil revenues and equally by virtue of its openness it is vulnerable to global shocks and thus understanding how these impacts the management of debt is important...Read More

The experience of dealing with overwhelming debts can be worrisome and therefore challenging. In the UAE there exist recognized legal avenues which allow the individuals or the business entities to seek for legal remedies as pertains to debt relief. There are two fundamental forms of debt relief, which are bankruptcy, and debt settlement. As indicated...Read More

Economic risk influences individual and organisational financial conditions in terms of stability. Like other nations of the world, the UAE has undergone economic shocks occasioned by periods of low oil prices, stagnant economies, and other factors compounded by COVID 19 in the recent past. These crises have also brought the issue of how to balance...Read More

Much of the credit information in the UAE is provided by the Al Etihad Credit Bureau (AECB), which collates information from other credit providers such as banks. Credit scores are from 300 to 900 wherein the higher the number the better credit position an individual has. These determinants of your credit score are payment history,...Read More

One aspect that entails professional approach is the management of the finances since stability in this area is always important and even more so in the context of the region which is the UAE and where the economy changes its tempo constantly. Below are simple and sound budgeting tips, debt management and types of repayment...Read More

On the UAE level, debt collection is regulated with use of federal laws and regulations, also individual emirates’ legal particularities. It is also important to know all the legal requirements that are acted in the collection of debts between the borrowing party and the lending party. Legal Framework Civil Code and Commercial Code: The laws...Read More

Main sources of distinction of Islamic finance are discussed below: Money and other financial instruments must be free of uncertainty or risk (Gharar) Contracts cannot involve any element of speculation or a sale based on an increase in the price of the subject of the contract (Maisir) The payment system of Islamic finance is based...Read More

The issue of debt management can be regarded as one of the most sensitive and important in the context of the UAE, which is characterised by the further velocity of the financial and credit market. As evidenced by the access to credit facilities as well as loans, there are different traps into which many people...Read More

Debt in the UAE is a complex issue especially due to the rising financial complexity of the country though having a plan on how to pay debt is a wise step towards financial liberty. Below are some guidelines that can lead to the formulation of a good plan based on the Principles of accounting to...Read More

Dubai, a city synonymous with opulence and opportunity, is home to a diverse population striving for success. However, financial challenges can cast a shadow over even the most ambitious dreams. Debt consolidation is a potential solution, but before taking that leap, certain steps are essential to ensure a smoother journey toward financial freedom in the...Read More