Show me the money

I am writing to Gulf News with great disappointment regarding Banque Misr’s loan. I was in need of an amount for my personal needs, for house rent and other such expenses.

I received an offer from Banque Misr’s agent for a loan, with the condition that the loan would be finalised within a week, and so, I happily agreed. The bank acted so swiftly — they completed the procedure and placed the money, after the relevant approvals, in my account on September 13, 2015, after taking all the documents from me.

The bank cleared some of my debt, which was just a small amount, but I paid the bank almost double the amount, with a promise that the extra amount would be refunded to me after 45 days. But when I tried to withdraw the money, it was on hold and I was told that after salary transfer, the money would be released.

When my salary was transferred, there was another demand for other documents, which were provided even when the money was not released. During this period, my money, which was deposited into the account in the form of a salary, was also put on hold. So now, I am unable to withdraw my loan amount and also unable to withdraw my own money from my own account! Amazing! Furthermore, the bank has also been charging monthly instalments regularly for the past three months. I called their customer service centre many times and met with the collections manager but he was so rude in his conversations. I live in the UAE with my family and have to pay my rent and have many other obligations to fulfil, but the bank has been playing with me and has wasted three months of my time. I am left stressed and anxious. I don’t know what I should do!

I read about similar issues resolved through Gulf News’ Your Complaints platform, so decided to approach the newspaper.

From Mr Abdur Rehman Jami


The management of Banque Misr responds:

Mr Jami visited our Head Office and met with bank officials to close the matter. All parties have agreed, and the issue has been resolved and closed.

(Process initiation: February 8. Response from organisation: March 8. Process completion: March 28.)

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