ADCC 1171/2023
This case involved amounts due after an individual had stopped paying murabaha installments. Also considered was whether there had been suifficient guarantees.
Background
A Respondent filed suit No. 553/2023 against the Appellant, requesting that it be ordered to pay 42/949,532 dirhams, along with legal interest at a rate of 12% from the date of filing the case until full payment. This was based on the fact that he had granted the Appellant banking facilities in the form of financing the sale of shares through Islamic murabaha in exchange for a guarantee cheque number .... worth 821,990 dirhams, in addition to the transfer of her salary and end-of-service benefits, but she had failed to fulfil its obligations, which was the amount claimed. This prompted him to file the case with the requests.
Proceedings
Court of First Instance – Decision dated 28/09/2023.
On 28/09/2023, the court ruled that the Appellant must pay the Respondent 42/949,532 dirhams. The Appellant appealed the judgment with Appeal No. 22/2023.
Appeal Court – Appeal No. 22 of 2023 - Decision dated 22/11/2023.