I am writing to you regarding a loan application I made with a bank in the UAE. During the application process, I was told by the agent that I could cancel it at any time before I provided my salary certificate letter.
Along with the loan, I also made a credit card application. However, prior to providing my salary certificate to proceed with the loan, I informed the agent that I wanted to cancel the credit card as I did not wish my debt burden ratio to be too high. The agent agreed to cancel the application.
I then provided my salary certificate to proceed with the loan, but also decided to cancel that application. When I did this, the agent then put through an application for a credit card with a Dh5,000 limit, then issued a card with a Dh60,000 limit, which has resulted in a debt to burden ratio of 56 per cent.
I immediately requested that the card be cancelled, but was informed by the agent that it will take 45 days, which is ridiculous to cancel a card that I did not request nor even receive. The agent then threatened to cancel the card in two days if I proceeded with the loan application. I have tried to make formal complaints with the bank to get the card closed, but my request have not been taken seriously.
Is there anything you can do to help me to resolve this issue as it is now showing on my credit report and causing problems with a mortgage application that I have made? Credit cards I have had with other banks have been closed in three days. Why is this bank claiming that it takes 45 days? SR, Dubai
Debt panellist 1: Philip King, head of retail banking at Abu Dhabi Islamic Bank
You have clearly demonstrated a sense of accountability and responsibility for your finances. It is concerning to see that your agent proceeded with the card application without your consent and has not offered to help. There is no reason that it should take 45 days if the card is not activated. Moreover, even if the card is activated, the bank management must make an effort to cancel the card as it carries a wrong limit.
With this form of misconduct, this matter should be escalated immediately to the higher representatives at the bank. Hopefully, you have a record of all your communications with the agent, especially those stating that you have no interest in a card or loan, as well as his threat to cancel the card. Reiterate how harmful this has been on your credit report.
The fact that he decided to submit an altered credit card application against your wishes is absolutely unethical
If no amicable solution is achieved, we recommend that you approach the Consumer Protection Department established by the Central Bank of the UAE to shield consumers from unfair banking practices.
When liaising with the Central Bank, it is necessary to provide proof, including copies of your financial statements, correspondences with the bank and all related paperwork. They will then review your case again to determine if there has been a breach of the law and deal with any misconduct that has been identified.
Debt panellist 2: Ambareen Musa, founder and chief executive of Souqalmal.com
It seems that the situation you're in is a result of both miscommunication and mismanagement on the bank representative's part as well as yours. The bank representative should have clearly explained the application withdrawal requirements to you, and should not have jumped the gun when submitting your application to be processed further.
The fact that the agent decided to submit an altered credit card application against your wishes is absolutely unethical. However, since you did initially sign the papers, it may boil down to a case of your word against his, unless you have documented proof of your timely cancellation request.
Add to that the fact that you changed your mind at the very last minute after submitting all the necessary documents and your salary certificate, the bank representative may be able to get off the hook more easily.
As for your question about the time it takes to cancel a credit card, banks in the UAE are allowed up to 45 days to process a credit card cancellation request. From checking for any dues on the credit card to making sure there aren't any future payments linked with it, the bank would need to initiate the standard checks to properly close your credit card account.
Even though your credit card is new and wrongfully issued according to you, the bank may still insist on doing so. One option in the interim is to request for your credit limit to be reduced to a figure you think is appropriate and does not negatively impact your debt burden ratio or credit score.
Using this as a cautionary example for the future, you must only go ahead with any sort of debt application if you're completely sure of it. And you should also take into account your ability to keep up with the repayments, early settlement fees and your personal financial circumstances before you place a request for a loan.
Debt panellist 3: Stuart Ritchie, chartered financial planner at AES International
The first thing to consider is if you have proof of the request to cancel both the loan and the card, whether that be an email or a WhatsApp message, for example. If this was a phone call, you can take a screen capture of the call details to show you made a call to the agent you’ve been in contact with and the length of that call. With that evidence, you can visit your bank branch and discuss your complaint with them in person.
The Central Bank’s information online indicates that it takes banks a minimum of 45 days to ensure all dues have been cleared, no future payments are scheduled and you (as the cardholder) aren’t liable to pay any other charges before providing a cancellation certificate. This is based on the bank’s internal banking practices and policies.
As this is a new card and providing you haven’t used it so far, you should have no credit to clear. If the bank is insistent on it taking 45 days when you speak to them again with your proof of cancellation request, it would be in your best interest to cut up the card so you’re unable to use it until the cancellation period is up.
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Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico
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The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
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Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.
School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.
“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.
“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”
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Best Club : Liverpool
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Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
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Best Referee: Stephanie Frappart
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Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
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Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
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