The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / EMIRATES BUSINESS
Finance comparison site compareit4me.com reported impressive surges in the number of UAE residents researching the finer details of credit cards and personal loans in the first quarter of 2016, compared with the same period last year.
The number of enquiries into mortgages that don’t require salary transfer were up by 450 percent, showing that people are stretching their vision outside of their own banks, to find the best possible mortgage deal for them.
Another area of major growth noted by the leading comparison site is Islamic finance, where enquiries into Islamic finance loans are up by 240 percent and Islamic finance mortgage searches are up by 380 percent.
Additionally, visitors to the site demonstrated a clear desire to better understand the benefits associated with their credit cards. Searches for cash back and air miles benefits in Q1 of this year were up by 500 percent and 367 percent respectively on the same period as last year.
compareit4me CEO Jon Richards says: “Global studies show that better financial literacy is one of the best ways to close wealth gaps between different segments of society.â€