The Al Ain Court for Civil, Commercial, and Administrative Claims has ruled that a man must repay Dh621,127 to a bank.
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The Al Ain Court for Civil, Commercial, and Administrative Claims has ruled that a man must repay Dh621,127 to a bank.
The Al Ain Court for Civil, Commercial, and Administrative Claims has ruled that a man must repay Dh621,127 to a bank after defaulted Murabaha loan and failing to transfer his salary as agreed.
The bank filed a lawsuit for Dh622,333 in outstanding debt, citing breached terms and non-payment. The defendant obtained a Dh550,000 Murabaha financing, with agreed profits of Dh71,346 repayable in 48 monthly instalments. However, he ceased payments after repaying only Dh1,333 and failed to transfer his salary, violating the contract.
A banking expert reviewed the case and confirmed the outstanding amount. The court found no valid defence from the defendant and ordered immediate full repayment, including 5% annual interest on delayed payments, plus legal and expert fees.
The court also confirmed the bank held adequate guarantees and acted in compliance with banking rules. This decision underlines the importance of fulfilling contractual obligations in Islamic finance agreements and the courts’ support for lenders protecting financial stability.
Abu Dhabi has launched the second edition of Global Food Week 2025 at the Abu Dhabi National Exhibition Centre, under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan. Running from October 21 to 23, the event features participation from 2,070 companies across 75 countries, with over half the exhibitors coming from the UAE itself.
Organised by ADNEC Group in partnership with ADAFSA, Khalifa International Award for Date Palm and Agricultural Innovation, and ADIO, the week-long event highlights key sectors such as food innovation, agri-tech, supply chain logistics, sustainability, healthy nutrition, and food security policy. The event also runs concurrent with the 11th Abu Dhabi Date Palm Exhibition showcasing producers from 20 countries.
A cornerstone of the event is the partnership with the Food and Agriculture Organization of the United Nations (FAO), which continues to lead dialogues on global food security challenges, climate-smart agriculture, and sustainable production. FAO’s high-level delegation is reaffirming Abu Dhabi’s role as a global hub for collaborative action in food system resilience.
New initiatives at Global Food Week include the region’s first Alternative Proteins event, AgriTech Forum for startups, and an Agricultural Investment Exhibition, all designed to foster innovation and investment for sustainable food futures. The event draws international expertise and investment, making it a key platform for driving the future of global food systems.
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