A bank loan shall be considered a commercial activity irrespective of the capacity of the borrower or the purpose for which the loan is allocated.
Interpretation and application must be checked against the official text and current version.
+7 (495) 221 31 46Discuss a matterUAE Commercial Transactions Law
Book Three: Banking Transactions · Part Three: Bank Credits · Chapter one: Bank Loan: Article (409)
A bank loan shall be considered a commercial activity irrespective of the capacity of the borrower or the purpose for which the loan is allocated.
Interpretation and application must be checked against the official text and current version.