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The right of the bank to freeze account and EOSB against a loan

The bank had held my account 20 days in advance of my EOSB After I got my new visa and salary letter within the UAE.

The bank had unfrozen the account but blocked the full amount of EOSB and asked me to provide a confirmation letter, which I feel is totally wrong.

My loan amount is even half of my EOSB. Can I approach the banking court of the UAE about freezing the account and holding my EOSB?

Naser Muhyealdeen

Hassan Al Riyami Advocates & Legal Consultants

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29 Jan 2019, 03:49

The bank is fully within its legal rights to hold your EOSB dues.

In fact, some banks may only release this after your new visa is stamped.

You need to provide to the bank the relevant paperwork they seek since you are obliged to do so if you want to unblock your EOSB.

29 Jan 2019, 12:01

I have already provided a new stamped visa, salary transfer letter from the new company (which is a government entity) and the new Emirates ID.

Still, they are asking me to provide them with a confirmation letter, but my company is saying there is no official document for confirmation with them.

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The right of the bank to freeze account and EOSB against a loan