1 Day
Source:
زاد الاردن
Jordan bank ordered to pay 30,000 dinars
A definitive ruling in Jordan mandates a bank to pay more than 30,000 Jordanian dinars to a borrower due to the bank's mishandling of his funds. The court emphasized that the bank is not entitled to deduct or seize the borrower's funds unless they are due to settle the debt after the agreed-upon term. It also warned against exceeding this boundary, clarifying that the bank cannot prevent the borrower from accessing or disposing of his deposited funds unless they are collateralized for the loan. This judgment is considered a significant legal precedent for protecting borrowers' rights and enhancing transparency in banking transactions.
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