From Associated Press 20 May 2012:-------------------------------------------------------------------------
Citizens of the oil-rich United Arab Emirates who defaulted on hundreds of thousands of dollars in loans could soon see their debts wiped away. ...The order by Sheik Khalifa bin Zayed Al Nahyan covers citizens detained for unpaid debts and those whose cases are still being reviewed. Debtors in the Emirates face imprisonment while in default.
-------------------------------------------------------------------------
articleI wonder how the lender is compensated for the loss.
