Abu Dabi Commercial Bank review: Mortgage loan

My Complain against Abu Dhabi Commercial Bank

Breach of Consumer Protection Standards

THE LICENCED FINANCAILINSTITUTION MUST NOT BLOCK FUND FROM A CONSUMER’S END OF SERVCIE PAYMENT FOR REPAYMENT / PAYMENT OF A CONSUMER’S MORTGAGE LOAN/FINANCING. Account blockage.
*CBUAE_EN_4229_VER1.pdf

Summary:
1- I was x-staff of Abu Dhabi commercial Bank working since May 2005 to 31 Jan 2025 due to newly amendment on staff policy introducing early Retirement age 50 plus or completing 5 year or more in service bank can decide to terminate contract under early retirement
2- From my end of service fund was transfer to settle my personal loan outstanding and loan closed
3- The issue started on pressurizing / blocking my balance of end of service benefits for payment towards my balance mortgage loan outstanding
4- Based on undertaking we have to signed before releasing EOSB to undertake not file any complain against bank and bank can transfer end of service towards settlement of loans outstanding accordingly proposed plan to pay EOSB balance towards mortgage loan outstanding to reduce loan amount and restructure loan
5- Once I was educated by one of my friends that EOSB should not be used to settle mortgage loan and I have contact CB on the same to understand the regulation and my rights I was informed referring to consumer protection standards guidelines by Central Bank of UAE that financial institutions must not block fund from a consumer end of service payment for repayment of a consumer mortgage loan financing.
6- I have been requesting Retail Credit to release my end of service balance, but they are still holding / blocking my end of service balance.
In line with Central Bank of UAE Consumer’s protection Standards