The days of applying for loans and credit cards without comparing rates and other costs with the competition appear to be over with the launch of souqalmal.com, a website that offers users comprehensive details on a range of financial products offered by banks in the UAE.
Modelled on the UK's successful www.moneysupermarket.com website, banking customers in the Emirates can now "do their homework" from the comfort of their home - and, hopefully, save some money in the process and target the best product for them minus the pressure of sales marketer.
Getting the most up-to-date rates and other information on banking products, such as car loans, credit cards or personal loans has been difficult for consumers here, so the launch of http://souqalmal.com/ is a welcome and transparent addition to the country's banking landscape.
