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Gulf Finance says jail-free loan plan is future of business

Posted on 18 February 2011

From Arabianbusiness.com: Dubai-based lender Gulf Finance has launched a loan programme aimed at small businesses that promises not to report clients to the police if they default on their debts. The scheme breaks sharply with the current system that allows banks to press for the jailing of debtors that fail to meet loan payments.
“Our position is that if you’re courageous and want to start your own business, it shouldn’t be a criminal offense,” chief executive office Steve Williams told Arabian Business. “Things like this will help revitalize the SME market.”………………………………………Full Article: Source

 
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