The bank filed a lawsuit demanding the repayment of the loan amount plus 5.75 percent annual interest, along with legal fees and expenses. The defendant had received Dh958,332 under a Murabaha contract with a 5.7 percent profit rate but defaulted shortly afterwards. The court ruled in favor of the bank, ordering full repayment along with case fees, expert charges, and legal costs, while dismissing all other claims. The Al Ain Court for Civil, Commercial, and Administrative Claims has ruled that a man must repay Dh919,199 to a bank after stopping payments on a personal loan following only three instalments, according to Emarat Al Youm. Court documents show the man also breached his agreement by refusing to transfer his salary to the bank. He also submitted documents including a deferral request and a car accident report. A court-appointed financial expert confirmed that the Murabaha financing complied with banking standards, with the bank purchasing the commodity before selling it to the defendant with an agreed profit margin. In his defense, he denied the bank’s claims, requested debt rescheduling, and asked that compound interest be excluded.
