Doctors have raised concerns about a bank loan tailored for couples undergoing in-vitro fertilisation.
The National Bank of Abu Dhabi (NBAD) recently launched the loan, for a maximum of Dh100,000, for those with a minimum monthly income of Dh10,000 who are unable to have children without IVF.
There is a 6.49 per cent interest rate on a reducing balance and the loan must be repaid within a year.
While doctors are pleased that couples can receive financial help, they are concerned about the long-term repercussions.
"Of course, this will help many who otherwise can't afford the treatment," said Dr Michael Fakih, founder of Fakih IVF in Dubai. "But what would happen if they cannot make the repayment?
"In the US, banks assess the financial situation in detail before approving a loan. There should be a rigorous qualification process to make sure that the loan will not negatively impact their lives, regardless of whether or not the procedure is successful."
Others say a longer repayment time with fixed interest would be better.
"You have at least three years to pay back a car loan," said Dr Keya Shivadey, a gynaecologist at Aster Medical Centre. "Here we're talking about human life coming into the world, which again will take another financial toll.
"I think it deserves more flexibility. If people can pay it back between three to five years, it would have a more positive effect and more people can avail it."
Figures from the bank show there are about 7,000 couples undergoing IVF a year at an average cost of Dh20,000 a cycle. On average, couples have the procedure three or four times before they conceive.
Insurance companies generally do not cover fertility treatments. Thiqa, the Abu Dhabi insurance plan for Emiratis, is an exception.
Financial experts are also concerned about the loans.
"Having children under any circumstances is expensive, so I'd be very worried about a couple's financial situation if they had to take out a loan at this stage," said Keren Bobker, a senior adviser at Holborn Assets who writes for The National.
"How will they manage at a later date with a child to pay for, the potential loss of one income and a loan to repay?"
There are personal loans available at lower interest rates, with longer repayment periods and lower income requirements, but it is common for banks to ask the purpose of the loan and a personal loan for IVF can be impractical or impossible to get.
"If I was underwriting a loan I'd be concerned about lending to someone who is likely to have significant other outgoing payments before long," Ms Bobker said.
NBAD representatives said the loan conditions were designed to protect customers and the bank.
Clients' financial commitments are also factored in to ensure they can afford it, said Amani Al Saba, a senior manager of marketing and communications at NBAD.
"We value our customers and are committed to ensuring they borrow within their means and repay the debt comfortably," Mrs Al Saba said.
IVF is offered on the National Health Service (NHS) in the UK but the criteria include that the mother be between 23 and 39 years old, at least one partner must have a diagnosed fertility problem, and the couple must have been unable to conceive for at least three years.
Primary Care Trusts also set extra criteria, including body mass index, child-bearing history and an age bracket for the father.
For those who cannot get access through the NHS, some medical financing options are available.
First Medical Loans, for example, offers an interest-free, 10-month repayment option. The minimum income requirement is £1,000 (Dh5,865) a month and the maximum loan amount is £10,000.
Patients can extend the repayment term for up to three years, but based on a 21.9 per cent annual rate.
The American Society of Reproductive Medicine says the average cost for one cycle of IVF in the United States is US$12,400 (Dh45,544).
Although 15 states have laws requiring some degree of cover for infertility with private insurance plans, most residents are not covered for IVF.
Some US clinics have launched risk-sharing programmes, for which patients pay a higher fee. If the patient achieves an ongoing pregnancy or delivery, the provider keeps the entire fee. If the treatment fails, 90 to 100 per cent of the fee is returned.
But these programmes have strict qualifications and are hard to get into. Pretreatment screenings and costs of fertility drugs are not usually included.
Dr Awatif Al Bahar, medical director of the Dubai Gynaecology and Fertility Centre, expressed serious reservations about charging interest for this type of loan.
While acknowledging the need for banks to protect themselves, Dr Al Bahar said they must meet patients halfway, adding she would not recommend the loan with its current terms to her patients.
"They're already very fragile," she said. "To get Dh100,000 and then [pay interest], and then she doesn't get pregnant and loses everything plus the stress of the treatment … I wouldn't go for this."
Mrs Al Saba said the interest rate offered is among the lowest personal loan rates prevailing in the UAE.
She said the concerns would be shared with the bank's senior management.
mismail@thenational.ae
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Results
2.15pm: Maiden (PA) Dh40,000 1,200m
Winner: Maqam, Fabrice Veron (jockey), Eric Lemartinel (trainer).
2.45pm: Maiden (PA) Dh40,000 1,200m
Winner: Mamia Al Reef, Szczepan Mazur, Ibrahim Al Hadhrami.
3.15pm: Handicap (PA) Dh40,000 2,000m
Winner: Jaahiz, Fabrice Veron, Eric Lemartinel.
3.45pm: Handicap (PA) Dh40,000 1,000m
Winner: Qanoon, Szczepan Mazur, Irfan Ellahi.
4.15pm: Sheikh Hamdan bin Rashid Cup Handicap (TB) Dh200,000 1,700m.
Winner: Philosopher, Tadhg O’Shea, Salem bin Ghadayer.
54.45pm: Handicap (PA) Dh40,000 1,700m
Winner: Jap Al Yassoob, Fernando Jara, Irfan Ellahi.
Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press
The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
FROM%20THE%20ASHES
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
PFA Premier League team of 2018-19
Allison (Liverpool)
Trent Alexander-Arnold (Liverpool)
Virgil van Dijk (Liverpool)
Aymeric Laporte (Manchester City)
Andrew Robertson (Liverpool)
Paul Pogba (Manchester United)
Fernandinho (Manchester City)
Bernardo Silva (Manchester City)
Raheem Sterling (Manchester City)
Sergio Aguero (Manchester City)
Sadio Mane (Liverpool)
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
U19 World Cup in South Africa
Group A: India, Japan, New Zealand, Sri Lanka
Group B: Australia, England, Nigeria, West Indies
Group C: Bangladesh, Pakistan, Scotland, Zimbabwe
Group D: Afghanistan, Canada, South Africa, UAE
UAE fixtures
Saturday, January 18, v Canada
Wednesday, January 22, v Afghanistan
Saturday, January 25, v South Africa
UAE squad
Aryan Lakra (captain), Vriitya Aravind, Deshan Chethyia, Mohammed Farazuddin, Jonathan Figy, Osama Hassan, Karthik Meiyappan, Rishabh Mukherjee, Ali Naseer, Wasi Shah, Alishan Sharafu, Sanchit Sharma, Kai Smith, Akasha Tahir, Ansh Tandon
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Results
Stage 7:
1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29
2. Sam Bennett (IRL) Deceuninck-QuickStep - same time
3. Phil Bauhaus (GER) Bahrain Victorious
4. Michael Morkov (DEN) Deceuninck-QuickStep
5. Cees Bol (NED) Team DSM
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28
2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35
3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02
4. Chris Harper (AUS) Jumbo-Visma - 0:01:42
5. Neilson Powless (USA) EF Education-Nippo - 0:01:45
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Griselda
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Maestro
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The%20specs%20
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