Settlement of Liabilities

Everything you need to know to settle your loans and liabilities with ease

Settling your liabilities with ease

We understand that settling liabilities is a major step in your financial journey. We are here to guide you through the required documents and steps to make the process as smooth and hassle-free as possible.

Once the necessary documents are ready, please have the takeover bank send an email with all documents attached to docverification@EmiratesNBD.com.

Required documents and next steps

Settlement of Liabilities Form
Cover Letter
Issued by the takeover bank specifying the below details clearly:
- Date the letter is issued
- Reference number or CIF number specified on the Liability Letter
- Customer Name
Liability Letter
A letter outlining the exact amount of liabilities and details of all outstanding debts that may need to be settled. This should be valid for a minimum of at least 2 days from the date of submission of Manager’s Cheque and settlement request.
Manager’s Cheque
This amount should cover the total liabilities mentioned in the Liability Letter
Bank Guarantee (only applicable for credit cards)
A formal undertaking issued by the bank guaranteeing settlement of your outstanding credit card dues.

What happens next?

We’ll review the documents and if everything is in order, we’ll confirm and request the takeover bank to proceed with the request.
You’ll need to visit the branch with the takeover bank’s representative to submit the documents.
Once the request is submitted, it will be processed within 5 working days.
You’ll be notified via SMS as soon as the request is completed.

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