Loan & Resign

Post new topic

Member since 07 December 2021

cenkobhMember07 December 2021 11:57:38

Hello there,
I have a loan in SCB Bahrain, I am planning to resign from my company and go back to my country.

I'm going to delay my loan payment before I go back to my country.

When I return to my country, I will find a job and continue the payments.
I plan to return to Bahrain to work again after a while, but I have to be in my country for a while.

What is the legal process?

What is the process after I submit my resignation?

Can I resign and collect all my receivables, salary and compensation from the company and go back to my country?

Fred Indonesia Expert

Member since 02 August 2009

A smile is the universal welcome.
Max Eastman

FredIndonesia Expert07 December 2021 17:12:24

28593

cenkobh wrote:
my country.
I'm going to delay my loan payment before I go back to my country.

Did the loan company agree to this?

XTang Bahrain/UAE/Saudi Arabia Expert

Member since 22 April 2014

XTangBahrain/UAE/Saudi Arabia Expert08 December 2021 04:36:07

11829

You need to agree with the bank. Keep in mind that in the case of most loans, your Company would have provided an undertaking to the bank that they will transfer your end of service to your account with them. If they do, the bank will use that to settle as much of the loan as it can and then will ask you for the rest. Or your company will ask you to get the NOC from the bank.

Fred Indonesia Expert

Member since 02 August 2009

A smile is the universal welcome.
Max Eastman

FredIndonesia Expert08 December 2021 05:39:12

28593

If I may ..

Are you saying he won't be allowed to leave the country if he has an outstanding loan?
Further, if he stops paying as he suggested, will the bank put in a complaint and stop him?

XTang Bahrain/UAE/Saudi Arabia Expert

Member since 22 April 2014

XTangBahrain/UAE/Saudi Arabia Expert08 December 2021 05:43:03

11829

He will not be stopped UNLESS the bank puts in a complaint for recovery. So for example, if the money goes into the account, the bank settles it and gives him a demand for the rest.............if he leaves before the demand deadline, no issue. Because after that, they may file a recovery case and that leads to travel ban.

Articles to help you in your expat project in Manama

Accommodation in Manama
Manama, Bahrain's vibrant capital, offers a variety of housing options to suit different lifestyles and ...
Working in Manama
It is obvious that the capital of Bahrain has come a long way in terms of growth and development, onboarding job ...
Getting married in Bahrain
For expats, moving to Bahrain often involves navigating new experiences, and marriage is one of the most ...
Driving in Bahrain
Driving a car is a common practice among expatriates in Bahrain, making travel easier and flexible. The Kingdom ...
Opening a bank account in Bahrain
Bahrain has long been recognized as a leading financial hub in the Middle East, hosting a diverse array of ...
Starting a business in Bahrain
Bahrain presents a prime opportunity for investors looking to enter the Gulf Cooperation Council (GCC) market. ...
Studying in Bahrain
Are you moving to Bahrain with your family? Or are you looking to study in a Middle-East country and wondering if ...
Healthcare in Bahrain
Bahrain's healthcare system offers robust facilities and high standards of care, catering effectively to its ...