Bank told to refund Dh149,467 to retiree

The Abu Dhabi Court of Cassation has upheld a lower court ruling ordering a bank to reduce a retiree’s monthly loan instalment to no more than 30 per cent of his pension.

- BY KHITAM AL AMIR

The bank was also ordered to Dh149,467 deducted from his salary.

In its ruling, the Court of Appeal had ordered the bank to cut the retiree’s monthly payment on an Ijara financing contract to Dh4,270.50, or 30 per cent of his Dh14,235 pension.