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BNPL's Rise in Wealthy Middle Eastern Countries
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Buy now, pay later (BNPL) services are gaining popularity in Middle Eastern countries, with the Saudi Arabian unicorn Tamara leading the way. The UAE and Kuwait also have BNPL services, indicating their adoption by relatively wealthy nations. A study reveals that BNPL usage is higher among higher-income households, with over 17% of consumers with an annual income of over $100,000 currently using BNPL.
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How does the adoption of BNPL services in Middle Eastern countries reflect broader global trends in consumer financial behavior?
How might the increasing popularity of BNPL services in wealthy Middle Eastern countries impact the traditional banking system and financial services?
What measures could be implemented to ensure responsible BNPL usage and prevent potential financial risks for consumers?
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