Introduction Artho Rin Adalat Ain 2003 covers the matters regarding recovery of loans by financial institutions. Thus does ALLAH make clear to you His verses that you may be guided'. And you were on the edge of a pit of the Fire, and He saved you from it. And remember the favor of ALLAH upon you - when you were enemies and He brought your hearts together and you became, by His favor, brothers. Īnd hold firmly to the rope of ALLAH all together and do not become divided. 'O you who have believed, fear ALLAH as He should be feared and do not die except as Muslims. In case of non-funded liability, a civil suit can be brought by way of common law doctrine of estoppel due to the acceptance of the liability. However, if viewed from the perspective of a consumer taking loan which is essentially a funding by the institution and liability for the consumer, yes, a financial institution can sue. This directly does not happen in financial institutions. Now, funded liability, so far I understand it, is that a person saves/invests/funds a certain amount for a liability he will incur in future as he has already promised it. Only financial institutions not anyone can file a case under the the ARAA 2003 for recovery of debts. Cases involving claims by Bangladesh Krishi Bank and Bangladesh Krishi. Its scope and jurisdiction of Artha Rin Adalat.
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