Questions & Answers
Questions & Answers
3 available 3 • View allCan the bank withhold my EOSB after changing jobs and providing all documents?


2
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.



Apr 11, 2023
501
Holding the EOSB of an employee by the bank upon changing jobs
8
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?

Jan 29, 2019
2925
How to release my EOSB from the bank after changing jobs and submitting documents?
0
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.

Apr 12, 2023
567
Legal blog
1 available 1 • View allThe Consequences of Job Loss and Defaulting on Financial Liabilities 26
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.
Feb 12, 2019
18947
Laws & Regulations
1 available 1 • View allFederal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
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.
Dec 15, 1985
148522

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