Calculation of housing, education and ticket allowances within the salary, after their descent in the account and the salary certificate

The banks operating in the country recently suspended the calculation of housing, education and travel tickets within the customer’s income from the authority in which he works, unless they are placed in his current account on which his salary receives and also appeared in his employer data, whether the salary certificate or “Bay Sleep”.

According to information collected by «Emirates Today» from several banks, and confirmed by an informed banking source, who preferred not to publish his name, the banks used to add the housing allowance according to the contract that the customer attends from And 50% of deduction on this basis.

He added: «After a while it was discovered that these contracts are inaccurate, and that the customer bears the burden of a monthly deduction of up to 70% of his salary, and resort to complaints to the central bank, which in turn holds responsibility for the bank, which relied on these contracts, so all banks decided not to accept any housing contract, education receipts or others, unless they appear in the customer account statement, meaning that it is deposited in his account, as well The monthly salary known as (Bay Sleep) ».

The source continued, “These negative practices are a fraud that is not in the interest of the customer, nor the bank, as the first bears the burden of a monthly installment that exceeds his ability and has only a small amount of his salary, while the second party represented in the bank bears fines from the central bank, as a result of violating the regulations in force.”

He stressed that these allowances raise the credit limit available to the customer, as they are divided into 12 months, and the calculation of 20 times the salary based on the salary that the customer gets monthly in addition to the amount of the allowances.

He pointed out that some contracts that are submitted to banks are incorrect and therefore banks were subjected to problems as a result, and a decision was taken to stop accepting the contracts and the approval of the official documents issued by the employer or the official account of the customer, which shows the housing, education or ticket allowance, whatever the date of their annual deposit in his account.

And that some of the working authorities pay the housing allowance at once in a specific month and others divided monthly throughout the year, and in any case this is clearly shown in revealing the monthly salary details “Bay Sleep”.

. The banks have previously used to add housing allowance according to the contract that the customer attends from the lessor.