As Ramadan is nearing, the UAE is already witnessing a shift in consumer behaviour in a way that more online shopping is anticipated. Starting from the evening of 22nd March 2023, Ramadan this year is all about using digital payments, digital platforms, and online orders.
The United Arab Emirates (UAE) has a whopping population of 9 million expats, which comprises 88.52% of the total population. Attractive package, lap of luxury, and the dash & dunes of the country have gathered more expats to work for them.
However, living in this country from a financial perspective is not smooth sailing if you haven’t planned your finances. This blog is your go-to guide for personal finance tips if you are a working expat in the UAE
As a card-dominated country, UAE has 63% of its total population as credit cardholders. They use credit cards for shopping, payments, and even to withdraw money. Although debit cards are used to withdraw money from Automated Teller Machines (ATMs), credit cards also facilitate withdrawing cash at a specific cost.
Applying for a loan might be a daunting task for many, but not for those who research thoroughly and avoid common mistakes. Mistakes made in the financial world cost you more money than the mistakes you make in other areas.
High-end digital solutions such as digital banks and mobile wallets have become more prevalent in the modern period, and more people are using them to send and receive money.
The unemployment insurance scheme announced by the UAE government is effective from 1st January 2023. The scheme is introduced to offer social security during unemployment and enhance the competitiveness of unemployed people. Already 250,000 people applied to the scheme by 12th Jan 2023
The digital payments market in the MENA region is expected to reach $9 billion by 2028 (124% up from 2021). Although the UAE population still relies on cash and credit cards for payments, the new generation and the millennials have already started exploring emerging digital payment methods.
As more than half of the UAE consumers are set to use cashless payments by 2024, virtual cards have become an emerging trend among the residents. Virtual cards have become one of the region’s most popular digital payment methods, as they offer flexibility, simplified payments, speed, and security.
Online money lending in the UAE is not new nowadays when you can instantly get small loans in one hour or less. Online money lending services come to your rescue when you need money, be it for financial emergencies or for meeting personal needs
We live in an era where everything – from renting a car to receiving cash – is just a click away. Digitization has emerged as a complete transformation for any industry – be it financial or agricultural.