Finance
Gulf’s Consumer Culture Lures Banks and Private Credit to Region
- Private credit funds raised under $500m for area since 2020
- International firms are funding local consumer startups
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Governments in the Gulf have been fighting to bring investment onshore, as sovereign wealth funds invest vast sums of money abroad. It’s been an uphill battle, but global lenders are taking notice of one niche area: consumer loans.
In a region characterized by gargantuan shopping malls and luxury goods, global private credit funds and banks are seeing opportunity in offering loans to startups focused on payments and consumer lending that are hungry for debt.