Rates report: Latest on UAE loans, accounts and credit cards

From credit cards to car loans, mortgages, bank accounts and more, The National’s weekly Rates Report will help you to make the right decisions to suit your personal finance needs.

With up to the minute data supplied by Souqalmal.com, the region’s leading price comparison website, the information report highlights some of the best personal finance products available in the UAE market today from some of the nation’s leading banks.

Listings criteria will be changed monthly to ensure a varied range of personal finance products for UAE consumers are featured in the report.

All listings are current at the time of publication.

The Emirates Foundation, an independent philanthropic organisation set up by the Government of Abu Dhabi to facilitate public-private funded initiatives to improve the welfare of people across the country, is working with financial experts, banks and the private sector to encourage people to better manage their finances.

Through a financial literacy campaign called Isrif Sah (Spend Right, in English) it hopes to build a cadre of 100 Emiratis who will be trained to become experts in personal finance and then help others. At a later stage, the foundation plans to tour the country, reaching out to students in schools and universities and consumers in the malls to help spread the message.

Sheikh Sultan bin Tahnoon Al Nahyan, managing director of the Emirates Foundation for Youth Development, says: “Financial literacy has emerged as an increasingly important issue notably in light of the global recession, where managing debt effectively emerged as a very salient subject. We want to be able to help young people in the UAE learn how to avoid excessive debt and manage their finances such that they can provide for themselves and their loved ones throughout their lifetime.”

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Alice Haine

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