Credit card interest rates vary greatly from country to country. The UAE’s demographics pose a challenging risk for the banking sector. With a very large expat population, the majority of borrowing is done by expat residents who hold a silent risk of returning back to their home countries with outstanding loans.

However, an effective credit bureau for vetting borrowers’ credit histories and status is an effective and logical start to regulating credit card usage in the UAE.

 

COUNTRY CREDIT CARD INTEREST RATE
United Arab Emirates
33%
Australia
18%
Brazil
72%
Canada
19%
China
18%
India
35%
Malaysia
18%
Nigeria
31%
Norway
20%
Philippines
36%
Russia
20%
South Africa
28%
United Kingdom
17%
United States of America
16%

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