Personal Lending

Your Credit Agreement and these General Terms (together the Credit Facility Terms) govern the relationship between you and us in respect of your Credit Facility. To the extent that any of the terms of the Credit Agreement and the General Terms conflict, the terms in the Credit Agreement will prevail.

It is important that you understand the Credit Facility Terms. You should therefore read the Credit Facility Terms carefully and contact us if you need help in understanding anything or you need us to provide you with information in a different format. We have also included a Glossary section to help you understand specific words we use in the Credit Facility Terms.

If you fail to comply with any of the Credit Facility Terms, we have the right to terminate your Credit Facility and demand that you repay any amounts you owe early.

Our registered office is 454 Shakhbout Bin Sultan Street, Al Mushrif, Abu Dhabi, United Arab Emirates (company registration number CN-4028026). We are licensed by the Central Bank of the UAE as a Specialized Bank pursuant to the Specialized Banks with Low Risk Regulation (Circular No. 13/2021) (identification number 01.01.07.062.2021.01).

As a Specialized Bank, we are licensed to carry on banking services in and from the UAE.

You can contact us using any of the methods set out below:

• by email to [email protected];
• by telephone on 600 57 1111; and/or
• by post to Al Maryah Community Bank LLC, P.O. Box 111485, Abu Dhabi.

You can also contact us online at www.mbank.ae or via the Mobile Banking App.

We will contact you using the contact details you provide to us. This may include contacting you by post, email, SMS, telephone or using push notifications on the Mobile Banking App, or any other means that we may introduce as a means of communication. It is really important that you ensure that your contact details are correct and up to date. If your contact details change, you must let us know immediately. If you do not, we will not be responsible if you do not receive information, notices or other important information from us.

Please note that we may record and monitor telephone/video calls with you for regulatory reasons, to help improve our services, or for security reasons.

The Credit Facility Terms are available in English and Arabic. We will always try to communicate with you in both English and Arabic, however there may be times when it is not possible to communicate with you in Arabic. In these circumstances, we will send our communications in English only.

We offer a range of Credit Facilities, information on which is set out on our Website. The Credit Facilities include:

• Loans: Our loan facilities include:
• salary transfer personal loans;
• auto-finance loans; and
• Wages Protection System salary advance loans.
• Credit cards.
• Overdrafts: Our overdraft facilities include:
• overdrafts against salary transfer, which allow you to obtain an overdraft limit (as decided by us from time to time) against your monthly salary;
• overdrafts against fixed deposit, which allow you to obtain an overdraft limit of an equal or lesser value than your fixed deposit. The fixed deposit(s) will be marked under lien against the overdraft facility and can only be released upon full settlement of the overdraft facility; and
• temporary personal overdrafts against salary transfer, which allow you to obtain a short-term overdraft facility for a maximum of thirty (30) days, after which the overdraft must be repaid in full from your monthly salary.

We may make other Credit Facilities available at our discretion.

The availability and eligibility criteria in respect of any Credit Facility are subject to our determination and applicable law and regulations.

You confirm that information given by you in your application for a Credit Facility is true and complete at the date of your application.

You must notify us if any of the information that you have given us in respect of your application changes during the term of the Credit Facility and provide us with any additional or updated information that we may require, which may include evidence to support your proposed purpose for or use of the Credit Facility.

You can apply for a Credit Facility by using the relevant application form on our Website or by contacting us using the details set out in clause ‎2.1 (How to contact us). You are required to provide all forms, documents, and evidence we request in relation to any Credit Facility application. If your application is approved, you will be required to agree to the Credit Facility Terms and enter into a Credit Agreement with us.

You may apply for and obtain more than one Credit Facility, however you will be required to enter into a separate Credit Agreement for each Credit Facility you obtain. Each Credit Agreement will set out additional terms applicable to that Credit Facility, including your rights and obligations under it.

All Credit Facilities are offered at our absolute discretion. We reserve the right to refuse any Credit Facility without reason and without assuming any obligation or responsibility for any Liability on its part.

If we make a Credit Facility available to you, that Credit Facility is personal to you. This means that you must immediately notify us if you are not the ultimate beneficiary of the Credit Facility (being the person that stands to gain the commercial or economic benefit and/or bears the commercial or economic risk of the Credit Facility).

We may, at any time prior to making a Credit Facility available to you, cancel our commitment to make such Credit Facility available, reduce the amount or credit limit of the Credit Facility or delay disbursing or making the Credit Facility available to you in any of the following circumstances:

• there is a material or adverse change in your circumstances since you completed the application, or any of the information or financial details given in support of the application is or becomes inaccurate;
• we have not completed enquiries about you to our satisfaction or our enquiries reveal information about you that is not to our satisfaction;
• we discover any adverse information that is relevant to our decision to provide you with a Credit Facility; or
• we are of the view in our sole discretion that you will be unable to comply with any of our instructions.

Information on repaying your Credit Facility is set out in your Credit Agreement. You must make payment of any amounts due in accordance with the Credit Agreement by way of direct debit or account transfer.

Any funds received by us to be applied in payment of any amounts outstanding in respect of a Credit Facility shall be used by us to reduce the amount outstanding under that Credit Facility in such a manner as we may determine in our sole and absolute discretion.

You agree to pay all applicable fees, costs, charges, and expenses in connection with the provision of the Credit Facility. Details of such fees, costs, charges, and expenses are set out in your Credit Agreement and in our Schedule of Fees. The Schedule of Fees is available on our Website at www.mbank.ae

When due, you authorize us to debit your Account with the amount of any applicable fees, costs, charges, expenses, interest, or commission.

All amounts paid to us are non-refundable and may not be applied as credit against any other amount due to us.

If you fail to pay us any amount that you owe us under your Credit Facility by its due date you will be required to pay us the late payment fees set out in your Credit Agreement. This means you will have to pay more than if you had made the payments on time in accordance with the terms of the Credit Agreement.

We may also terminate your Credit Facility in accordance with clause ‎11 (Termination events) below. You will also have to pay our reasonable costs and expenses if we have to enforce the Credit Facility against you. This includes fees and charges of lawyers and collection agencies.

If you are having difficulty making any payment due under your Credit Facility then you should immediately contact using the details set out in clause ‎2.1 (How to contact us).

We have the right to appoint collection agents and other third parties (inside the UAE or abroad) to take action to collect any amounts due to us from you. You agree that we may provide them with any information or documents relating your accounts and products held with us (either in your sole name or held jointly). The collection agents and other third parties shall have the right to take any appropriate action on our behalf in order to recover any outstanding amounts and this may include contacting you.

If at any time we choose not to strictly apply the Credit Facility Terms, this shall not be a waiver or amendment of the Credit Facility Terms and we shall not be prevented from applying the strict terms of the Credit Facility at a later date.

We may arrange life and disability insurance cover for you for the term of your Credit Facility, under which we are named as the beneficiary and you agree to us sharing your information with such third parties for these purposes. Any such life and disability insurance will be subject to separate terms and conditions that we will provide to you.

In this regard you acknowledge and agree that:

• we do not offer any insurance advice and you are solely responsible for obtaining independent advice relating to any insurance policy;
• we do not manage or underwrite any insurance policies; and
• should we offer a specific insurance policy, such policy is underwritten by a third-party insurance provider.

We may earn commission or receive remuneration when making such introductions and you acknowledge and agree that we shall not be accountable to you for any commission earned or remuneration received.

If you are not eligible for life and disability insurance cover arranged by us, we may require you to separately obtain and maintain life and disability insurance in your own name for the term of the Credit Facility, with us specified as the beneficiary. You will be required to provide a copy of the relevant policy to us at the date of each renewal of such policy and provide evidence that the premium relating to such policy has been paid.

The premiums in relation to any insurance policy do not form part of the amount of credit under your Credit Facility. Instead, you will be responsible for payment of the premium in respect of any insurance policy that is required to be maintained by the you in accordance with the terms provided to you.

You represent and warrant to us on the date on which the Credit Facility Terms are entered into, on the date of disbursal of the Credit Facility and on each day during the term of the Credit Facility, that:

• you have the requisite capacity to enter into the Credit Facility;
• all information supplied by you to us is true, accurate and not misleading;
• no Termination Event or potential circumstances that may result in a Termination Event exist or have occurred and none will occur as a result of the exercise of your rights or the performance of your obligations under the Credit Facility Terms;
• you are fully aware of the risks inherent and associated with a Credit Facility and accept such risks; and
• you have read, are aware of and agree to all costs, charges and fees applicable under the Credit Facility.

For the duration of the Credit Facility, you irrevocably and unconditionally undertake and agree to:

• promptly provide us with such financial and other information concerning your affairs and financial condition as we may request from time to time;
• comply with all obligations set out in the Credit Facility Terms;
• promptly notify us of the occurrence of any Termination Event; and
• use the Credit Facility only for lawful purposes.

We will use all of your information as we explain in our privacy notice, which can be found here:
https://www.mbank.ae/privacy-policy/.

This privacy notice explains:

• what information we collect from you;
• what we do with this information (including how we use it for marketing purposes);
• with whom we share your information; and
• for how long we keep your information.

We will not transfer your information outside of the UAE.

We are required under law to both request information from, and provide information to, Al Etihad Credit Bureau when opening your Account and regarding any services, including Credit Facilities, provided to you.

You agree and consent to us obtaining information, on an ongoing basis, from Al Etihad Credit Bureau, any other authorised credit reference agency or credit bureau or from other public sources. We will use this information to verify your identity, to assess your eligibility for a Credit Facility, to collect any amounts due and outstanding from you and to maintain our overall relationship with you (including marketing or promoting financial services or related products and market research).

We may, on an ongoing basis, request reports from authorized credit reference agencies or credit bureaus to assess your ability to meet your financial commitments without further consent from you. You understand that to request multiple reports from credit reference agencies or credit bureaus may negatively impact your credit score, which may make it difficult for you to obtain credit in the future.

You also agree and consent to us providing information to Al Etihad Credit Bureau or any other authorized credit reference agency or credit bureau. This may include disclosing information about you or your conduct in respect of the Credit Facility if payments are not received by us by their due dates.

Unless the Credit Agreement provides differently, we can make changes to the Credit Facility Terms at any time and your acceptance of the Credit Facility Terms constitutes your express consent to this. We will let you know of any changes via email, post or through our Online Banking or Mobile Banking platform.

We will let you know in advance of most changes and will give you at least sixty (60) calendar days’ notice before the changes to the Credit Facility Terms take effect. However, we may occasionally need to make changes without telling you in advance. This may include where:

• we are making the change as a result of legal and/or regulatory changes;
• the changes being made are in your interest;
• the changes are to make the Credit Facility Terms clearer to you; and/or
• there is any other valid reason which means there is not time to give you notice.

Where we are unable to give you advance notice, we will let you know of the change as soon as possible after it is made.

Where we are able to give you notice, the updated Credit Facility Terms will come into effect sixty (60) calendar days after we have given you notice. If you do not wish to accept the changes, you are free to repay and terminate your Credit Facility. If we do not hear from you, we will assume that you have accepted the change and your continued use of your Credit Facility will be deemed acceptance of the updated Credit Facility Terms.

We may also make changes to the interest rates, fees and charges set out in our Schedule of Fees, which includes introducing new fees and charges. If we increase any interest rate, fee or charge, we will give you at least sixty (60) calendar days’ notice in advance of any change being made. If you do not wish to accept the changes, you are free to terminate your Credit Facility by repaying the entire outstanding balance, including any outstanding arrears, fees, accrued interest and/or charges (including any Early Settlement Fee).

If there is a decrease to the interest rate, fees or charges then we do not need to tell you in advance. However, we will let you know of the relevant change as soon as possible after it is made.

Our current Schedule of Fees is always available on our Website at
https://www.mbank.ae/fees-charges/

We have a right of set-off over your Account and any other products or facilities we provide to you. This means that if you owe us money, we can take funds from any Account you hold to reduce the amount you owe to us.

We may use our right of set-off where, for example:

• you have money in your Account held with us (including any Joint Account); and
• you owe us money in connection with any Credit Facility provided to you and are overdue in making payment to us.

In these circumstances, we could use the money held in your Account(s) (or any Joint Account) to reduce the overdue sums you owe to us.

We may also exercise our right of set-off in respect of any sums we owe to you. For example, if we owe money to you we can use our right of set-off to reduce the amount of any outstanding debt that you owe us.

We will always consider your circumstances, as well as any applicable legal or regulatory requirements, before exercising our right of set-off.

Whilst we will not usually tell you before exercising our right of set-off, we will tell you as soon as possible after we have done so.

We cannot use our right of set-off in certain circumstances. This includes where:

• we are required by law to hold money in an Account in your name or someone else’s name; and/or
• we are prevented from doing so by law or a court.

Each of the following shall constitute a Termination Event in respect of any Credit Facility:

• you fail to make payment on the due date of any amounts that are due and payable under the Credit Facility Terms;
• you fail to comply with any of your obligations under the Credit Facility and/or you breach any of the Credit Facility Terms;
• any representation, warranty or undertaking made or given by you to us is, or provides to have been, at any time incorrect, incomplete or misleading;
• you have left the UAE and/or no longer have a valid and up to date passport, UAE residency visa or Emirates ID card;
• we notice that there are grounds which could lead to your inability to fulfil your obligations under your Credit Facility;
• in case of your demise;
• you are declared bankrupt or have similar proceedings taken against you;
• you fail to repay money due or otherwise break any term of any other agreement between us;
• any information which you provided to us, or representation made to us by you, or on your behalf, was materially inaccurate or misleading;
• if we become aware of any legal or regulatory reason why we cannot continue to lend to you and/or service your Credit Facility; or
• if we suspect money laundering, fraud or any other financial crime has been committed in respect of any accounts you hold with us or we believe that the continued operation of any accounts you hold with us would breach international financial sanctions.

Where a Termination Event occurs, we can terminate the Credit Facility and demand immediate repayment of the outstanding sums due under that Credit Facility including the entire outstanding balance, as well as any outstanding arrears, fees, accrued interest and/or charges (including any Early Settlement Fee). We can also take any and all action and exercise such rights and remedies as are provided for in the Credit Facility Terms or as are otherwise available to us under applicable laws.

We can transfer all of our rights in relation to your Credit Facility to another bank or financial institution that purchases those rights.

We can transfer all of our obligations in relation to your Credit Facility but only to someone who is authorized or recognized by the Central Bank of the UAE as being able to provide credit. If we are considering transferring your Credit Facility we may share your information with third parties in relation to the transfer.

You cannot transfer any of your rights and obligations in relation to your Credit Facility, or your Credit Facility itself, to anyone else.

In the event of your death:

• the entire unpaid balance of your Credit Facility will become immediately due and payable, including any outstanding arrears, fees or charges (including any Early Settlement Fee);
• the Credit Facility will remain valid and shall bind your estate and heirs; and
• your heirs need to give us notice of your death as soon as possible, an in any event within fifteen (15) days, and provide us with a certified copy of your death certificate and any other documents required by applicable law.

In the event that we arranged life and disability insurance cover for you when you first obtained the Credit Facility, then we will make a claim under such insurance policy in the event of your death in accordance with the separate terms and conditions governing the insurance policy. We will use the proceeds of any such insurance claim to repay the balance of any outstanding Credit Facility(s), including any outstanding arrears, fees or charges (including any Early Settlement Fee). Where the amount of any insurance proceeds are not sufficient to repay the entirety of your outstanding Credit Facility(s), then your estate or your heirs will be responsible for paying the remaining amounts owed to us pursuant to your Credit Facility(s).

In the event that you did not obtain such an insurance policy, your estate or your heirs will be responsible for paying the outstanding Credit Facility in full, including any outstanding arrears, fees or charges (including any Early Settlement Fee).

If we are unable to resolve your complaint, or you remain dissatisfied, you may also make a complaint to our regulator, the Central Bank of the UAE (www.centralbank.ae).

If you have a complaint, please contact us to let us know and we will try to resolve it. You can make a complaint either verbally or in writing using the following methods:

• by email to [email protected];
• by telephone on 600 57 1111;
• by post to Al Maryah Community Bank LLC, P.O. Box 111485, Abu Dhabi;
• through the ‘Contact us’ section on our Online Banking platform; and/or
• through the ‘Contact us’ section on our Mobile Banking platform.

We will let you know that we have received your complaint within two (2) Business Days. We will also let you know of our complaints process and keep you updated on the progress of your complaint as we look into it.

We will provide you with a written response setting out our final decision on your complaint, including detailed reasons for our decision, within thirty (30) Business Days of receiving your complaint.

Except in the case of fraud, gross negligence or wilful misconduct on our part, you agree that you shall indemnify us for Liability that we suffer as a result of any third party claims brought against us in connection with our provision of the Credit Facility to you or otherwise when acting on your instructions.

You agree that we shall not be liable for any Liability arising out of or in connection with any event outside our control including (without limitation) acts of God, war, riots, hostilities, terrorist activity, local or national emergency, fire, natural calamities, explosions, strikes, court orders, legal restraints, any change in any law, failure of equipment or software, technical, power, communication or network malfunction or breakdown.

You agree that we shall only be liable to you for direct loss which has been finally judicially determined to have been caused by any fraud, gross negligence or willful misconduct on our part. You also agree that we are not liable for any indirect, incidental, or consequential loss or damage, including loss of profit, howsoever caused, whether foreseeable or not and regardless of whether we have received actual or constructive notice.

We expressly exclude any liability for loss or damage which may be caused when we are acting in good faith and in compliance with the Credit Facility Terms and any applicable laws or where you are not acting in compliance with the Credit Facility Terms.

You may be able to obtain a chequebook if you hold a Current Account or Joint Account with us. All other Account types are not eligible to receive a chequebook.

The provision of chequebooks is made in our absolute discretion. Please refer to Part 2 of these Terms for further information on the features of each specific Account type. The number of cheques contained in any chequebook will be limited to ten (10).