Al Ain court orders defaulter to repay over Dh329,000 on Dh582,000 loan
Court orders repayment after loan default
The Al Ain court has ruled that a customer must pay Dh329,426 after failing to keep up with repayments on a Dh582,000 bank loan.
Repayment history and outstanding balance
The court established that the borrower had already paid Dh355,617 before stopping further instalments, leaving the balance that the judge ordered to be settled.
Loan affordability checked
It also confirmed that the original loan amount was within permissible limits, being less than twenty times the customer’s monthly salary of Dh29,600.
Bank’s position and defendant’s conduct
After the bank had fulfilled its full obligation under the agreement, the defendant did not make regular payments and failed to pay the instalments when they fell due.
Additional details
The report includes a file photograph. The article was written by Amr Bayoumi, takes about three minutes to read and provides a sharing option. Readers can also add Emirates 24|7 to Google News and adjust the text size as needed.
