Q: Hi, Good eve, Madam. I have a query regarding EOSB. I resigned from my previous company and my EOSB was held by the bank due to my existing loan until I can provide them with new documents for my current job. Let's make things short. I provide them with a new visa and salary transfer letter addressed to the bank. Unfortunately, upon presenting all the documents, they informed me that the new company is not listed in the bank. Do the bank have the right to use my EOSB to adjust my remaining loan?

Q: Hello, I have a loan with a local bank and I just changed the job with a better package. But unfortunately, the new company is not listed with the bank and my EOSB is on hold. In that context 1) My new company is listed in an international bank. Can I arrange a direct debit option? 2) Can my existing bank deduct the upcoming EMI from EOSB's? 3) Will there be a travel ban if my payments are regular to the bank? I have a loan but not transferring my salaries.

Q: Can a bank freeze my gratuity if my new company is not listed?

Q: I have a loan from a bank and I have changed my job, the bank is holding my end of service. It's been 4 months now and my new salary is transferred to them and I never defaulted on a payment. what to do? Noting that my new salary is higher than the old one but the bank is claiming that my new company is not registered with them and rejecting to release the amounts. P.S. The original loan amount is 550K (including interest) balance amount to be paid is 380 K and my EOS is 195K.

Q: Hello, My bank is not releasing my EOSB. I resigned from my previous company after 10 years with them as I will be transferring to another company. I just started a week ago. I was told by my bank that they will not release my money since my salary is AED 1,000 less than what I previously earned. My current salary is still able to cover my liabilities with them. I even inquired with them last month and informed them of my resignation and was told that as soon as I submit my documents from my new employer, they will release my money. This was not the case now. Please help. I don’t have any plans of leaving the country and willing to continue with my payments. I’ve never missed a payment with them.

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.

The UAE has adopted a major reform in its legislative system that brought about 40 new laws and amendments to the company law, criminal law, personal status, among others. The amendments aim to develop the legislative structure in various sectors, the labor law being one of these, was the most recent. We try in this article to shed light on the changes introduced with the new labor law and their significance on both, the employer and employee.

The provisions of this Law, known as "UAE Labour Law", govern the relationship between employers and employees and other labour matters in the United Arab Emirates. There are special labour related regulations applicable in some of the free zones in the UAE.

This Decree sets the rules and conditions for the termination of fixed-term (limited) or unlimited (not term-bound) employment contract between employer and worker in the United Arab Emirates.

The provisions of this Decree-Law, known as "New UAE Labor Law", govern labour relations in the private sector of the United Arab Emirates. The New Labor Law repeals the previous UAE Labor Law (Federal Law No. (8) of 1980).