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Rick Pudner is well aware of the problems small Emirati firms face during periods of economic turmoil. And he blames bank lenders for making matters even worse.
Over morning coffee in the heart of Dubai’s financial centre, Pudner, the former head of Emirates NBD, tells Euromoney about the way banks function in the United Arab Emirates. “The traditional methodology here,” he says, “is, basically, you give a loan to a company and you take a series of post-dated cheques as guarantees.
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