Estimates by Dubai Statistical Centre are that 900,000 people will be leaving the U.A.E.
Recently was announced that nearly 200,000 Indians in the U.A.E., have registered seeking to return home. (read here).
Of the 11,000 outlets registered as F&B in Dubai, anywhere between 40-50 per cent are unlikely to remain in business over the next few months. (read here)
Hence many people will leaving the U.A.E., most with debts such as mortgages, credit cards, car finance debts.
Parkings, airports and garages, will be occupied by those cars again and you will also see an increase in provisions in your books, also caused by delinquent cars.
Pre Corona more than 100,000 vehicles were already wanted by all banks.
Low estimates indicate, that this number will rapidly increase to 200,000 cars, minimum!
Report a Car is requested to develop a system to recover vehicles.
Report a Car is a fully developed front and back end system for U.A.E. banks and consumers.
All banks uploading the wanted cars, only license plate is enough.
It enables everyone to report abandoned vehicles using the app Report a Car.
If this car is wanted by the banks, all concerned departments will be notified such as Legal Team, Recovery Team, Police, Towing Companies, Emirates Auction.
Report a Car offers many other benefits:
Fully developed system to identify and recover defaulted vehicles
Integrated cost functionalities with RTA, Police
Import all fines and other related costs
Automated calculation modules to determine Cost of Benefit
Auto notification to Legal, Police, Repo Teams, Towing Companies
No local installation needed
Report a Car supports banks recovering vehicles 50 times faster
Report a Car supports Police and Municipalities to identify delinquent cars, ready for to remove
The U.A.E. Central Bank will analyse less Credit Risk on Banks' Balance Sheets
Report a Car protects consumers for hazardous situation and cleaning up occupied parking spaces
How can your bank participate:
1. Contact our friendly team
2. Our team will visit your bank and will give a demo
3. After the presentation, our legal team will send a detailed agreement
4. After signing; Banks can upload cars
5. The hunt for your cars can begin