After an expert analysis verifies excessive deductions, the bank is additionally required to pay 3% yearly interest. After an expert assessment verified that the lender had collected unjustified additional interest on a loan, a commercial court in Abu Dhabi ordered a bank to reimburse a customer Dh80,596. Additionally, from the date of the claim until complete settlement, the bank was required to pay 3% annual delay interest. According to court records, the client filed a civil case seeking the recovery of Dh80,596, Dh20,000 in damages, and legal interest.
He claimed that even though he had been paying back his loan on time, the bank had taken out more money than was legally required, as shown in a report provided to the court by a consulting expert. According to Emarat Al Youm, the bank’s attorney attended the proceedings but did not present any proof to refute the accusation. According to the court’s ruling, the expert had carefully examined the loan account and determined that the claimant had paid more than the real outstanding sum by Dh80,596. The court reaffirmed its trust in the report, pointing out that it followed banking procedures and was written by a trained expert.
The claimant was entitled to compensatory delay interest after the court determined that the bank’s failure to pay the sum constituted a delay. However, the court denied the customer’s request for Dh20,000 in extra damages, ruling that they had not demonstrated any suffering beyond the already-addressed pecuniary loss. The court dismissed all other claims and ordered the bank to pay Dh80,596 plus 3% annual delay interest, along with legal costs and attorneys’ fees.
