bank or any lending institutions extend such lending to you specially expats on the merit of your integrity thru your sponsor sometimes.
they granted loans even they do not know you 100% , and you should be thankful to such lending institutions.
the first thing you should do is to go to the bank and settle everything or else you will be facing many consequences in the event you run away from such responsibility.
there is a saying that says good karma begets good karma.bad karma will likewise begets bad karma.
First of all such acts is non recommendable, by the way all banks are having very strong networks all over the world, they will trace the person out whereever he is, then u can imagine what they will do, and secondly within middle east they will black list the person and they will make the persons life miserable.
there are banks here that is also available in your country even if you will not come back they have authorize agencies to confiscate whatever you have in your country
If you leave Qatar without paying your personal loan, definitely a case will be filed against you then you will be blacklisted in the immigration. You should never visit Qatar again or else you'll land in the prison cell. Yes, personal loans are insured but bank can't recover it thru default or non payment. Insurance is for life only, meaning applicable only if the borrower died.
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What will Happen if the compani is terminating???
bank or any lending institutions extend such lending to you specially expats on the merit of your integrity thru your sponsor sometimes.
they granted loans even they do not know you 100% , and you should be thankful to such lending institutions.
the first thing you should do is to go to the bank and settle everything or else you will be facing many consequences in the event you run away from such responsibility.
there is a saying that says good karma begets good karma.bad karma will likewise begets bad karma.
think about this.
You will get blacklisted from getting a visa for all GCC
First of all such acts is non recommendable, by the way all banks are having very strong networks all over the world, they will trace the person out whereever he is, then u can imagine what they will do, and secondly within middle east they will black list the person and they will make the persons life miserable.
there are banks here that is also available in your country even if you will not come back they have authorize agencies to confiscate whatever you have in your country
If you leave Qatar without paying your personal loan, definitely a case will be filed against you then you will be blacklisted in the immigration. You should never visit Qatar again or else you'll land in the prison cell. Yes, personal loans are insured but bank can't recover it thru default or non payment. Insurance is for life only, meaning applicable only if the borrower died.
Sorry, I forgot to ask. Why you are interested in such an issue? Is it only curiosity?
I think those loans up to a certain amount are insured with the Insurance companies and banks will get their money back from the Insurance.