#Number of Loans Disbursed UAE

[harshitasoni]

UAE Online Loan Aggregation Industry Holds Potential 7x Revenue Growth By 2024. Will UAE Online Loan Aggregation Industry Stand On This Projected Figure? Ken Research

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1. With rich, diverse & unparalleled infrastructure, the UAE Loan Industry driven by high corporate loan demand.

Trends and Developments in UAE Online Loan Aggregator Industry

Lending majorly dominated by national banks with wide distribution network, occupying >90% of all banks credit disbursal.

With major investment in hydrocarbon projects & other infrastructure projects, credit demand by government has been rising & expected to further rise in future as well.

Traditional methods of lending (Friends/family) are still preferred choice for availing loans by people with below avg credit history.

Banks are undertaking consolidation activities thereby reducing number of branches, cash offices & promoting digital banking services.

 2. Technological Evolution in UAE Banking Services.

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Adoption of Blockchain technology in enhancing “Know- Your-Customer” processes, useful in client onboarding, cross border transfers, payments & compliance reporting.

Tasharuk Platform: Launched by UBF to fight against cyber-attacks on banks. Platform enables cyber threat information sharing, identify threats & enhance defense systems.

Incorporating Artificial Intelligence in data analytics, combatting fraudulent activities & compliance improvement, further increasing focus on customer dealing & decision-making processes.

Increased penetration of virtual banking channels including Mobile (>85%), Online Banking (>90%), Branch/Call center (>90%) and ATMs (~100%).

Noticeable shift among customers to online medium for undertaking non-cash transactions of balance enquiries, fund transfers etc.

3. Housing Loan, one of the fastest growing retail loan segments.

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In 2019, average house price in Dubai decreased by ~12% reaching to ~AED 2.58 Mn, thereby, shifting from investor led market to owner-occupied market.

While borrower’s previously preferred fixed interest rates but with Fed Reserve Predictions (2019), noticeable trend was observed for variable rate schemes.

Customers rising preferences for loan providers/aggregators offering other benefits like property management services & post-handover assistance services.

Dubai is dominated by expat population (11 times of Emirati population), who are observed to be preferring indirect channels due to high documentation & eligibility requirements.

Current lending process in The UAE is partially offline; however; with advancements & relaxations in regulations could help in making the process online.

For more insights on the market intelligence, refer to the link below:-

UAE Online Loan Aggregator Market

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[easyloan448]

Unlocking Financial Solutions: Loan Against Property UAE and Personal Loan in Sharjah

In today's fast-paced world, financial flexibility is crucial for achieving our goals and managing unexpected expenses. When it comes to securing funds, Loan Against Property UAE and Personal Loan in Sharjah are two popular options that offer financial assistance tailored to your specific needs. In this article, we will explore these two financial solutions and how they can provide you with the financial support you require. For more financial advice and services, you can visit easyloan.ae.

Leveraging Your Assets

A Loan Against Property UAE is a secured loan that enables you to access your property's value to meet your financial requirements. Whether you own a residential or commercial property in the United Arab Emirates, this type of loan can offer you a substantial amount of capital for various purposes.

Higher Loan Amounts: One of the primary advantages of a Loan Against Property is the ability to secure a higher loan amount compared to unsecured loans like personal loans. This makes it an ideal choice for significant financial endeavors such as starting a business, funding education, or even debt consolidation.

Competitive Interest Rates: Due to the collateral involved (your property), lenders typically offer lower interest rates on Loan Against Property UAE compared to other unsecured loans. This may lead to significant cost reductions in the long run. Loan tenure.

Flexible Repayment Tenure: Borrowers have the flexibility to choose a suitable repayment tenure, making it easier to manage monthly payments based on their financial situation.

Multipurpose Usage: The funds obtained from a Loan Against Property may be utilized for a number of things, including home renovation, medical expenses, or even expanding your property portfolio.

Unsecured Financial Support

A Personal Loan in Sharjah is an unsecured loan that provides you with financial support without the need for collateral. It offers convenience and quick access to funds for various personal expenses.

No Collateral Required: Unlike a Loan Against Property, a Personal Loan in UAE does not require you to pledge any collateral. This makes it an accessible option for individuals who do not own property or are unwilling to use their property as collateral.

Quick Approval and Disbursement: Personal loans often have a straightforward application process, and approval and disbursement can be relatively quick, making them suitable for addressing urgent financial needs.

Versatile Usage: You can use a personal loan for a variety of reasons, such as travel expenses, medical bills, education fees, and even debt consolidation.

Personal loans often have fixed monthly payments, making it simpler for borrowers to budget.

Choosing the Right Financial Solution

When deciding between a Loan Against Property UAE and a Personal Loan in Sharjah, consider your financial goals, the amount you need, and your ability to provide collateral. If you have a valuable property and require a substantial amount of money, a Loan Against Property may be the ideal choice. However, if you need quick, unsecured funds for personal expenses, a Personal Loan in Sharjah could be the solution for you.

Conclusion

In the ever-evolving landscape of financial services, it's essential to explore your options and select the right financial solution that aligns with your specific needs. Whether you opt for a Loan Against Property UAE or a Personal Loan in Sharjah, both can provide the financial support you require. For more information and assistance in securing the right loan for your needs, visit easyloan.ae. They specialize in making the lending process hassle-free and convenient, helping you achieve your financial goals with ease.

[india-times]

Softbank-backed Paytm hopes to break even before the end of 2023

Shares of India’s largest digital payments service provider remain roughly 70% below its IPO price

Paytm, India’s largest digital payments service provider, aims to break even on an operating basis by September 2023, as it struggles to appease investors following a disappointing initial public offering in November 2021.

The company, which is backed by Japan’s SoftBank Group and China’s Ant Capital, said on Wednesday that its monthly transacting users exceeded 70 million in the fourth quarter of its fiscal year that ended on March 31, 2022, and projected strong growth prospects.

Paytm’s shares were up 5 per cent to 642 rupees ($8.5) at 11.24am UAE time, following the announcement.

“We are encouraged by our business momentum, scale of monetisation and operating leverage,” said Vijay Sharma, founder and chief executive of Paytm.

“We expect this to continue, and I believe we should be operating Ebitda [earnings before interest, taxes, depreciation and amortisation] break even in the next six quarters (ending September 2023), well ahead of estimates by most analysts,” Mr Sharma said in a note to shareholders.

“We are going to achieve this without compromising any of our growth plans.”

Paytm’s $2.5 billion IPO on the Bombay Stock Exchange, India’s biggest, was touted as a bellwether that the South Asian country’s appeal to global capital was growing. However, the company, which listed as One 97 Communications, lost over a quarter of its value on its trading debut.

It has also been hit by regulatory challenges. Last month, the Reserve Bank of India barred Paytm’s Payments Bank venture from accepting new customers. The action was based on certain “material supervisory concerns” and the restrictions will continue pending a comprehensive audit of its information technology systems, the Indian central bank said.

The company’s shares remain about 70 per cent below the 2,150-rupee listing price.

Despite the IPO debacle, the company is sticking to its business plan that scaled up because of the “necessary capital” the company acquired, Mr Sharma told The National in December.

“The best part about the IPO is that we welcomed [a larger] number of people as shareholders. We are seeing tremendous uptake of the credit business, which is bringing money to the bottom line,” he said.

On Wednesday, Paytm confirmed that its adoption by merchants had increased to 2.9 million devices and that its platform has disbursed more than 6.5 million loans per quarter.

“Against the backdrop of volatile market conditions for high growth stocks globally, our shares are down significantly from the IPO price,” Mr Sharma said in the note.

“Rest assured, the entire Paytm team is committed to build a large, profitable company and to create long-term shareholder value. Aligned with this, my stock grants will be vested to me only when our market cap has crossed the IPO level on a sustained basis.”

#BUSINESS #INDIA #INITIALPUBLICOFFERINGS #TECHNOLOGY

[businessliveme]

Under presidential directives, Mohamed bin Zayed orders AED5.5 bn in housing packages for UAE nationals in Abu Dhabi

ABU DHABI, 19th May, 2020 (WAM) — Under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, has approved the order to disburse housing loans, houses and residential plots totaling AED5.5 billion, granted to more than 5500 UAE nationals within Abu Dhabi.

The approval of the first installment of housing loans, houses and residential plots coincides with Eid al-Fitr, and is part of the wise leadership’s commitment to ensure social stability, enhance living standards of UAE nationals and strengthen their role in contributing to the development in society.

The directive from His Highness Sheikh Mohamed bin Zayed Al Nahyan to double the number of housing loans to UAE citizens falls within Abu Dhabi’s Development Accelerator Programme, ‘Ghadan 21’.

The post Under presidential directives, Mohamed bin Zayed orders AED5.5 bn in housing packages for UAE nationals in Abu Dhabi appeared first on Businessliveme.com.

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