Discussions

Lost your job in the UAE—can you renegotiate your loan repayments, and what do people think about it?

Yes, under rules set by the Central Bank of the UAE, banks are required to support borrowers facing financial hardship by offering credit counselling and fairly considering options like payment deferrals, rescheduling, or restructuring loans instead of immediate penalties; but here’s the real question—do borrowers feel banks are flexible and supportive enough during tough times, or is there still hesitation and stress when approaching lenders for help?