Q: Hello, I’ve been in redundancy from my employer related to COVID-19 impact to the industry. What will happen to my personal loan?

Q: Good morning My husband lost his job last year in October after 15 years in Dubai. He continued to pay his mortgage without giving any excuse to the bank till now when COVID-19 happened. He is on my visa. We want to defer mortgage payments for a few months. Kindly advise what should we write to the bank in this regard as they are demanding the payment now. We received the email this morning. I would like to mention that we have been paying the mortgage regularly. Best Regards

Q: I’ve lost my job due to COVID-19. I am a school teacher. My school will open in September. I have a credit card with a bank. What legal action can I do? No means of paying them for the meantime.

Q: Hi I hope someone can help me with a solution to this current situation. I borrowed a personal loan of AED 260,000 from a bank. I already paid 24 months instalments. In the month of April 2020, I lost my job due to COVID-19 and the bank has given me a 3 months payment holiday. However, my employer has cancelled my visa and I had to fly back to my home country. I have informed the bank about my current situation and even requested them to grant me a few months of payment holiday until I can find a new job. Also, I have other credit card liabilities I wasn't able to pay consistently since I am having financial issues. Recently, I found that the bank has presented my cheque for AED 260,000/- and it got bounced. Now, there is an active criminal case against me for my personal loan. Currently, I am unemployed and also I have very little savings left. Even If I get a job in the UAE in future, can I travel to the UAE? Please advise me on how I can resolve this issue.

Q: I have 3 credit cards and a loan. Now I have resigned from my job due to the Covid issue and last year there is a deduction of my salary and unpaid leave. How will I handle this situation?

Q: I have a civil case against me. I had a loan of AED 30000 and a credit card total due was AED 19000. In Corona time, I lost my job and went back to my home country. Once I came back, they made a case against me for around AED 47000. It's not a bank but a finance house. Right now I'm on a visit visa. What should I do?

As the world is currently experiencing a major lockdown and suspension of almost all commercial and civil operations, the question arises in the novelty of Coronavirus outbreak on how serious it is to be dealt with as a Force Majeure.

The management of individual financial affairs is crucial and all the actions must be weighed down while committing to any financial liability. Whether it's job loss that may have lead to financial failure or the opposite, one must be aware of the personal liability which will not diminish by paying fines for cheque bounce cases. There are two major types of liabilities, criminal liability and civil liability. Each has its own significance, hence, must be dealt with accordingly.

This article discusses the Ministerial Resolution No. (279) of 2020 Regarding Employment Stability in the Private Sector during the Period of Application of Precautionary Measures to Curb the Spread of the Novel Coronavirus Issued by the Minister of Human Resources and Emiratization in Abu Dhabi on 26/3/2020.

The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.