EX­PATS TAKE MORE BANK LOANS

Per­sonal loans taken by ex­pa­tri­ates grew by 36% to QR14.36 mil­lion in De­cem­ber 2013 from QR10.6 mil­lion in Jan­uary 2013, whereas loans taken by Qataris rose 9% to QR26.82 mil­lion dur­ing the same pe­riod.

Qatar Today - - BUSINESS > BANK NOTES -

Re­ports quot­ing Qatar Cen­tral Bank data say that though the growth is higher in case of non-Qataris, the to­tal amount of loans is higher in case of Qataris and shows that the ticket size of loan is big­ger for the lo­cals. Rapid growth in the pop­u­la­tion of ex­pa­tri­ates is one of the main rea­sons for the surge in per­sonal loans. Low salaries and ris­ing in­fla­tion have also forced non-Qataris to ap­proach banks for per­sonal loans. Another rea­son for the high dis­tri­bu­tion of per­sonal loans is lower in­ter­est rates.

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