Borrowed 900,000 dirhams, defaults
The Al Ain Court ordered a client to pay the bank an amount of 627,163 AED, after he failed to pay the installments on a loan valued at 936,119 AED with an annual interest rate of 2.80%. The bank filed a lawsuit seeking a verdict requiring him to pay the outstanding amounts along with legal interest accruing at 9% annually, in addition to expert and legal fees. The judgment comes after the client continued to neglect paying the due installments, despite having received a credit facility from the bank.
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