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Offering a loan with a condition to pay 1% insurance in advance

Hi,

I am based in Kuwait and an Abu Dhabi-based finance company is offering me a loan of 100,000 $ with a condition to pay 1% insurance in advance to process the loan.

Their office is located in Abu Dhabi. I want someone to verify this company's credibility; to know whether they are genuine or fake, check their license/registration, etc, and understand the conditions of the loan, furthermore, pay that 1% insurance fee only if they are satisfied.

Mariam Jumaa Alhammadi

Laila Hamza Al Mulla Advocates and Legal Consultants

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28 Nov 2022, 05:21

Good morning,

You can contact the Economic Department in Abu Dhabi.

They will let you know.

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Laila Hamza Al Mulla Advocates and Legal Consultants

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28 Nov 2022, 07:09

Dear questioner,

This is a fraud. If you want a loan, apply to a bank in the country in which you work. A bank cannot give a loan to an expatriate outside the country.

28 Nov 2022, 07:30

Yes, I have some doubts that it is a fraud.

The broker is asking to physically visit the office or inquire about them that's why I thought to ask someone.

28 Nov 2022, 07:52

Good that you asked. You would have been exposed to a definite scam.

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