Coronavirus: Your outstanding bank loan could lead to travel ban in UAE

Coronavirus: Your outstanding bank loan could lead to travel ban in UAE

I have outstanding personal loan of Dh25,000 and two credit cards with outstanding debt of Dh35,000.. It should be noted that any bank or approved financial institution in the UAE has to follow the guidelines laid down by Central Bank of UAE while lending personal loans or providing credit card facilities to the individuals.. Article 12 of Regulation No. 29 of 2011 related to regulations regarding bank loans and services offered to individual customers, states the conditions for opening of accounts, providing of credit cards and granting loans and bank facilities.. "a) Conditions for opening of accounts of all types as well as conditions for obtaining credit cards must be included in a standard agreement, drafted in both English and Arabic and written in an easily readable font, and in accordance with texts drafted and approved by the Emirates Banks Association.. b) Conditions for granting personal loans, car loans, overdraft facilities and facilities for covering unpaid credit card balances must be included in standard applications, drafted in both Arabic and English and written in an easily readable font, and in accordance with texts drafted and approved by the Emirates Bank Association.". The Central Bank of the UAE through its notice