I think lending is getting out of hand in the UAE though, but I don't believe anything can be quickly done without creating a host of unintended and undesirable consequences, which is why most modern governments make changes in much smaller steps.
It probably would have been more sensible to base the deposit requirement on years of good standing as a resident with plenty of experience of borrowing money in the UAE and working for a solid employer.
I suspect the banks will help borrowers get round this by providing the difference with a personal loan. I earn a relative pittance in Dubai yet I have half a mil on tap anytime I want it.
Regardless, this will be overturned with some wishy washy nonsense in the local rags. Anybody noticed how the new rule was quickly re-reported as a planned change?
Last edited by Sciolistes; 9th Jan 2013 at 06:11.