Legal Question in Credit and Debt Law in Saudi Arabia

I have taken a personal loan of AED 20,000 from Citi Bank, Dubai and I lost my job due to recession. I got a job in Saudi Arabia just 15 days ago. I told them I need some more time to repay. They are threatening me that they will put a GCC ban on me? Can they do so? Pls advise me on this issue.


Asked on 1/26/10, 11:10 pm

1 Answer from Attorneys
Awad Majzoub on my own

no they cannot do so but they are entitled to ask you either for full settlement or an acceptable quarantor.HOWEVER PLEASE REREAD THE LOAN CONTRACT AGAIN YOU MAY FIND THE ANSWER.

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Answered on 1/26/10, 11:39 pm


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