Charity plans drive against bank debt

December 26, 2013 - 4:02:38 am

DOHA: A local charitable organisation has plans to start an awareness drive against rising consumerism in the Qatari community that has an increasing number of families trapped in a bank debt spiral.

Studies have earlier shown that some three-fourths of Qatari families are in debt and keep struggling to fight their way out of a vicious debt cycle.

RAF (Sheikh Thani Bin Abdullah Foundation for Humanitarian Services) said campaigns will be on for a month highlighting the social curse of debt taken just to splurge on unwanted luxuries, targeting Qatari and other GCC communities here.

The CEO of RAF, Dr Mohamed Saleh Ibrahim, said the campaigns will be launched using the print and electronic media as well as videos showcasing the negative impact of debt and luxurious lifestyle. 

Much money sought through bank loan is spent on entertainment, RAF said, implying overseas trips made by many Qatari and GCC families for shopping and fun—mostly with the money sought from banks as loan.

The Peninsula

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