Dubai: Not just for shopping, UAE consumers could soon pay off their medical or education bills in monthly instalments… at zero interest. If they do, it could mean savings in the thousands of dirhams each year – and these days, each saved dirham counts.
Yes, the ‘Buy Now Pay Later’ could soon show up quite forcefully in helping clear off those bills too. It was last year that the payment option emerged as a viable option for UAE consumers to pick up goods on credit… and not have to worry about the credit card charges.
A handful of BNPL platforms/apps rushed to fill the market need and at a time when shoppers were being extremely careful with their spend patterns following the COVID-19 outbreak and the resultant hit on the economy and jobs.
Federal Bank ties up with Mashreq Bank to offer instant money transfers from UAE to India
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Dubai: More landlords in the UAE are giving tenants at their retail and office properties rent deferments and even full-scale lease renegotiations to help them through the COVID-19 crisis. Even those landlords who had held back from doing anything last year are more willing to come to the negotiating tables.
“Existing tenants are being given the opportunity to scale down their premises until market conditions improve,” said Zain Qureshi, Managing Director and Global Head of Real Estate Finance and Advisory at Mashreq Bank. “With businesses across the UAE coming under increased financial stress from a fall in revenues caused by the pandemic, occupiers are seeking more value out of their properties.”
Federal Bank, Mashreq Bank of UAE ink pact, to offer money transfer
May 10, 2021
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Federal Bank has entered into a tie-up with Mashreq Bank, a leading financial institution in the UAE, to facilitate money transfers to India. The partnership will support Mashreq’s faster payment product, QuickRemit. Mashreq is one of the oldest banks in the UAE, and has a presence in twelve countries across Europe, US, Asia and Africa.
Shalini Warrier, Executive Director, Federal Bank said, “With a market share of 17 per cent in personal inward remittances to India, we have been always at the forefront of ensuring our remittance business. Federal Bank adds one more partnership to its fold through this tie-up”.
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