High interest rates push people into debt

Published: Sat 23 Nov 2019, 9:19 PM

Last updated: Sat 23 Nov 2019, 11:20 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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