Majid Al Suleimany Books
Winner The US Golden Seal of Literary Excellency 2013


October 17th 2010


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85% of residents are in debt and the AVERAGE debt is 500,000Dirhams – so assuming that the UAE population is 3million that is an astounding

750BILLION Dirhams (204,237,000,000USDollars)
of debt floating around.

The economy of the UAE is 198BillionUS Dollars so that means that the population of the UAE have more debt than the economy and given that most are not citizens, without mortgages, and with no credit rating system it looks as though banks are lending irresponsibly to say the least

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N.B. Comments are upto October 21st 2010..