• January 17, 2018
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complaints

Letter for settlement

Reader doesn’t receive a loan clearance letter and wonders why

15:23 January 8, 2016

Letter for settlement

In December 2014, I applied for a car loan with Emirates Islamic Bank. I managed to settle the loan early. But even after the settlement, the bank representative, as well as the bank manager at the Al Barsha Mall branch, refused to issue an early settlement or loan clearance letter for my loan, stating that the bank had stopped issuing loan clearance letters.

I would like to highlight the fact that despite the receipt of final payment, I have nothing in writing from the bank, to prove that I have cleared my loan and nothing is outstanding.

Gulf News, kindly ask the bank why they are not issuing me loan clearance/settlement letter.

From Mr Amman Irshad

Dubai

The management of Emirates Islamic Bank responds:

Thank you for bringing Mr Irshad’s concerns to our attention.

We would like to clarify that Mr Irshad has specifically requested for a vehicle finance settlement letter, which is no longer in practice in accordance with the Roads and Transport Authority’s online system for vehicle mortgage release. As a goodwill gesture, we have issued a vehicle finance settlement letter for Mr Irshad and we can now confirm that the customer has collected the letter from Emirates Islamic’s branch in Al Barsha.

We would like to take this opportunity to reiterate that Emirates Islamic is committed to providing the highest-level of customer service to our loyal clientele.

Mr Irshad responds:

I can confirm that I have received the vehicle finance clearance letter from Al Barsha branch. Thank you for the support.

(Process initiation: November 1, 2015. Response from organisation: November 4. Reader confirmation: November 11.)

Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.