The switch to digital payments accelerated during the Covid-19 pandemic and the trend is likely to stay as consumers embrace the concept of cashless societies
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I was working for seven years but lost my job in December 2019. I took out a personal loan of Dh128,000 while I still had a job and paid Dh2,671 in monthly instalments. When I was made redundant, my gratuity of Dh30,000 was used to pay down my loan.
I explained my employment situation to the bank and asked if it was possible to reschedule my loan and pay between Dh800 and Dh1,000 a month. However, they said they could only lower the instalments to Dh1,626 a month, which I cannot afford to pay as I am still looking for a job.
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It’s been more than a year since our 2020 travel plans were disrupted because of the Covid-19 pandemic – and many of us are keen to get back in the air, visit family or take a well-deserved holiday.
With vaccination programmes now in place in many countries around the world and travel corridors opening up, it s time to start planning our summer vacations.
There are a number of financial factors to consider before taking the leap, including the cost of flights, health insurance and whether or not airlines will continue offering flexible tickets in case our travel plans have to be cancelled at the last minute.