High interest rates push people into debt

Filed on November 23, 2019 | Last updated on November 23, 2019 at 10.20 pm

The introduction of the new insolvency law is indeed is a welcome move. However, before we help those who are already in debt, it is more important to weed out practices and policies that push one down the debt spiral. It is the responsibility of the central bank and other regulatory authorities to keep the excessive greed of banks and financial firms in check.

- Arish Ehsan, Dubai

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