Ambareen Musa, Founder and Chief Executive of Souqalmal.com said some of the new maximum caps “seem unusually high”. She further added on the new UAE bank fee changes:
“Take late payment fees on home loans for example,” she said. “Most banks currently impose a penalty of up to Dh200 on delayed installments, which is much lower than the Dh700 cap issued by the Central Bank. While this will rein in the outliers, it won’t necessarily bring respite to many bank customers.”
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