Dubai’s MAF reviewing options credit card business: sourcesDUBAI: Dubai’s Majid Al Futtaim, which operates the Middle East franchise of French retailer Carrefour, is exploring options for its credit card business including enlisting partners to manage unsecured credit risk, two banking sources told Reuters. The economy in Dubai is suffering from sluggish growth due to a real estate downturn and slowing global trade, hitting white-collar jobs and consumer spending. MAF said it continues to explore and evaluate opportunities that support the sustainable growth of its business. The move would help MAF bring in a partner that is expert in managing credit risk, while the retail conglomerate can continue to hold onto loyalty and customer data, two sources said. The deal could also help potentially outsource some of the IT and back office work, one of the sources said.

Source: Ethiopian News October 10, 2019 11:03 UTC