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Gulf banks pursue Malayalis who fled Kuwait to UK with loans

According to the Kuwait Gulf Banks records, more than a hundred Malayalis have taken loans and disappeared into the UK. Many have taken out loans in the millions. Some have even taken possession of sums in the crores.

The notion that a significant number of recently arrived Malayalis in the United Kingdom are promptly departing for Australia is not unfounded, as the exodus of Malayalis from the UK surpasses expectations.

While each individual has their unique motivations, a prevailing sentiment among the majority is their desire for a more favorable climate.

The elder generation of Malayalis in the UK, having experienced a comparable exodus ten years ago, are now amidst similar circumstances. However, rumors persist within this community regarding a select few Malayalis.

The rumor suggested that a considerable number of departing individuals failed to honor their large bank loans and left without fulfilling repayment obligations for high-value items, such as phones acquired through installment plans.

Reports said that some financial institutions, including the Royal Bank of Scotland, pursued legal action against a handful of Malayalis, substantiating the veracity of these rumors. While defaults in repayment were attributed to one or two isolated incidents, this prompted a noticeable decline in such occurrences.

From Kuwait’s Gulf Banks to the UK

However, a resurgence of similar grievances is echoing among UK Malayalis. Notably, concerns have been raised regarding those who arrived from Kuwait in the last three or four years, alleging that they obtained substantial loans from banks there and subsequently vanished disappeared in the UK.

The main complainant is the Kuwait Gulf Banks. According to their records, more than a hundred Malayalis have taken loans and disappeared into the UK. Many have taken out loans in the millions. Some have even taken possession of sums in the crores.

If there are accounts with no significant misuse of funds, Kuwait mirrors the UK’s ease in obtaining loans. This potential loophole has been exploited by many Malayalis, who believe they can evade consequences by relocating to the UK and avoiding loan repayment, leading to legal troubles for numerous individuals.

The majority of loan recipients are couples, often engaged in a competitive borrowing trend. A law firm in Manchester has started sending legal notices to these young Malayalis accused of defrauding banks and subsequently disappearing.

The bank’s letter has started to come to many old Gulf Malayalis in major cities like Manchester, Liverpool, and Newcastle. The details of this scam have surfaced only after the letters were leaked by individuals seeking legal assistance and subsequently passed on to British Malayali.

 

 Source: marunadanmalayalee



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