Loan Shark Interest Rate in the United Arab Emirates

Loan sharks in the United Arab Emirates charge borrowers up to 120 percent in interest rate per month.

The loans are primarily lent to Asian communities in the country, and are known as “the blade” due to the stranglehold that the lender has on the borrower.

Source:  “Victims of loan sharks told to ‘forget fear’ and report crimes to police,” 7 Days in Dubai, March 18, 2013.