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UAE: Court orders bank to return Dh80,000 to customer

Ismail Sebugwaawo /Abu Dhabi
ismail@khaleejtimes.com Filed on March 30, 2021
Photo: Reuters

The bank was found to have breached a loan contract.

A bank in the UAE has been instructed to return Dh80,000 it unjustly took from a customer as interest.

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Court documents revealed that the customer had filed a lawsuit against the bank after she noticed that she had paid much more in interest rates than what was agreed upon in the loan agreement.

She had borrowed the money from the bank to construct villas and was supposed to repay the loan in equated monthly instalments (EMIs) that also included an interest component.

She demanded an accountant or a banking expert be assigned to conduct an audit of the bank and also scrutinise her loan contract.

The plaintiff's lawyer explained that his client had secured Dh4.4 million from the bank to construct villas.

He said the client had settled the loan and the accrued interest agreed upon.

However, the bank, the defendant in the case, had unjustly extracted Dh80,000 from her.

A banking expert upheld the contention that the defendant had breached the loan contract.

The Abu Dhabi Commercial Court ruled in favour of the complainant. The court also ordered the bank to pay her back Dh80,000 which it had unjustly taken from her.

ismail@khaleejtimes.com

author

Ismail Sebugwaawo

A professional journalist originating from Kampala, Uganda, Ismail is a happy father with strong attachment to family and great values for humanity. He has practiced journalism in UAE for the past 13 years, covering the country's parliament (FNC) and crimes, including Abu Dhabi Police, public prosecution and courts. He also reports about important issues in education, public health and the environment, with a keen interest in human interest stories. When out of reporting duties, he serves the Ugandan community in Abu Dhabi as he wants to see his countrymen happy. Exercising and reading are part of his free time.





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