I am currently a resident of Dubai but a citizen of Sydney, How can i pay off my Dubai loan from sydney?

Question

Im living in Dubai at the moment but really need to come back home to Sydney. I have a loan in dubai for 60k thru HSBC bank and the bank says i cant leave till this is paid in full. Is there a way around this?

Answer 1

Unless the bank works with the Dubai customs or immigration people, I don't see how they can stop you from leaving. If you have the wherewithal to pay the loan when you get to Sydney, just send them checks or wire them money according to the terms of the loan. Most bankers are happy to overlook minor details, as long as the money is coming in.

An alternative would be to refinance the loan with a bank in Sydney, and pay off Dubai.