Can I go for Final Exit when I still have active bank loan?

modjo Serial expat

Member since 18 March 2013

modjoSerial expat13 February 2018 09:20:19

316

Hi there folks, what is the proper/legal way to deal with an existing bank personal loan in Saudi Arabia, when you have to leave Saudi Arabia (final exit) to work in another country?

Is it possible to continue the loan re-payment while you're already working in another country? I am considering a job offer abroad but still have active personal loan, I do not wish to neglect my responsibility to the bank but I am not sure how I should proceed if I decide to accept the job offer abroad.

I am thinking to approach the bank to inquire about this matter soon, but first I'll check if there are similar experience around here. Thanks!

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jedrey Member

Member since 26 March 2018

jedreyMember26 March 2018 15:59:50

Hi everyone.Asking for anyone advice.I am transferring my sponsorship to my Husband and I have standing loan at SABB.will the bank deduct the remaining 2 years loan from my ESB .Only small amount will remain in my ESB if they do.I want to get my complete ESB to invest it an just want to pay the bank on monthly installment.Can I do it.I mean Do I have the right to tell the bank that I will pay them on monthly basis as agreed.

modjo Serial expat

Member since 18 March 2013

modjoSerial expat28 March 2018 05:53:05

316

Hi @jedrey, from what I gathered - there's no other way to know the answers aside from talking to the bank about your situation and proposal.

What I know is that once I resign, my ESB will be calculated and all outstanding amount like bank loans, salary advance, indemnity etc will be settled using the ESB first. That is stated in my company's HR documents.

XTang Bahrain/UAE/KSA Expert

Member since 22 April 2014

XTangBahrain/UAE/KSA Expert28 March 2018 10:10:08

11973

@Jedrey, as per process, they will deduct it from ESB. Because when you got a loan, your company gave them an undertaking to transfer ESB to your bank account and mark it as such in the transfer. They will do it automatically and you have no "right", as you call it, to change anything.

However, you can discuss / make a request with your bank and they may allow it based on your relationship or history with them.

modjo Serial expat

Member since 18 March 2013

modjoSerial expat28 March 2018 11:40:03

316

@XTang, the company will have first dibs on any settlement before remaining ESB is transferred to the bank account, right?

If the remaining ESB is not enough to cover the loan balance, does the bank has the right to prevent issuance of Final Exit visa?

XTang Bahrain/UAE/KSA Expert

Member since 22 April 2014

XTangBahrain/UAE/KSA Expert28 March 2018 11:45:02

11973

Yes they have the first charge on the ESB as it's transferred into the bank account.

They have no say in the final exit visa which is issued by the employer. Their system is not linked with MOI.

However, if you don't pay the loan and they register a case with the police (and you are still in Saudi), it is updated in MOI system and then you won't be able to leave. But this takes time i.e. for the loan to be due for a while, them trying to reach you and not being able to etc.

If you leave without paying, they can register a case and this will cause problems for you in the future within GCC.