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Moheb Hassan

Moheb Hassan

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الأسئلة المجابة 63652 | نسبة الرضا 98.2%

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I just take a loan from UAE bank worth 400k AED to...

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I just take a loan from UAE bank worth 400k AED to refinance some debt and to have a business project. Im hesitant to pursue the business project because of the current situation. My first monthly EMI will be this end of May 2020 thru salary deduction. Recenlty, my company started to reduce the salary of some higher position which we believe to be applied for all employee. Now I got a managerial offer which I already accepted from other country which ensures updated monthly salary plus a yearly bonus. I plan to resign by June 1,2020 and will leave the UAE after the employment visa is cancelled. I also plan to pay my remaining monthly EMI through my cousin who is a nurse by sending her money from outside the UAE through western union. For the record also, I have a good record in Central bank even before I have a bank loan and employed in a company having 3 months no salary. I manage well financially all what i have. Only this time that the offer is a big opportunity for me. Question : Can I leave the UAE having a loan but with up to date monthly payment?

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إجابة الخبير: Moheb Hassan

Moheb Hassan

Moheb Hassan

Lawyer

الأسئلة المجابة 63652 | نسبة الرضا 98.2%

We would like to inform you that if you got a loan, and you want to resign and leave the UAE, here is the following information:
 If the bank does not take any legal action against you due to the failure to pay the loan installments.
 In this case you may travel and leave the UAE.
 But if the bank filed a complaint against you, in that case, you will not be able to leave the UAE until the case is finally closed. Also, if you signed cheques for the bank, the penalty is imprisonment or a fine.
 Here is the text of the UAE Penal Code related to your inquiry:
Article 401:
 
Detention or a fine shall be imposed on anyone who, in bad faith, gives a draft (cheque) without a sufficient and drawable balance or who, after giving a cheque, withdraws all or part of the balance, making the balance insufficient for settlement of the cheque, or if he orders a drawee not to cash a cheque or makes or signs the cheque in a manner that prevents it from being cashed."The same penalty shall apply to anyone who endorses a cheque in favour of another or gives him a bearer draft, knowing that there is no sufficient balance to honour the cheque or that it is not drawable."It may further be noted that since the cheque amounts to Dh249,000, Law No. 1 of 2017 on Criminal Orders (Criminal Order Law), which is only implemented in Dubai, shall not be applicable owing to cheque amount exceeding Dh200,000.

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Moheb Hassan

Moheb Hassan

Lawyer

الأسئلة المجابة 63652 | نسبة الرضا 98.2%

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