It is not clear if Pannu took up the accommodation loan
, but it is understood he did claim reimbursements.
In addition, company maintained accommodation would go some way towards incentivising staff (or, alternatively, the offering of housing accommodation loans
or allowances), particularly against the backdrop of ever increasing rental and real estate in the UAE.
As for mortgages, the Directive will cover consumer credit plus a mortgage but standard accommodation loans
continue to be excluded from the scope of the Directive;
Additionally, those Series D investors who invested an amount equal to or greater than 25% of the amounts invested in prior transactions involving stock or certain Accommodation Loans
and Term Loans had the exercise price of any Company warrants held by such Series D investor reduced to (i) $0.
Also, effective July 1, 2008, the Company curtailed dealer accommodation loans
due to higher risks normally associated with such loans.