Monday, Aug 23, 2010
Gulf News
Customers can get a fresh start
Abu Dhabi Abu Dhabi Islamic Bank (ADIB), an Islamic financial services group, yesterday announced a four-month postponement of monthly instalments for customers who subscribe to its refinancing programme Al Khair during Ramadan.
Al Khair is ADIB’s Sharia-compliant repayment plan through which customers can transfer all their conventional bank liabilities to ADIB and get a fresh start.
As part of the offer, customers who subscribe to ADIB’s Al Khair programme during Ramadan can defer their monthly instalments by 90 to 120 days — until 2011, the bank said.
ADIB’s profit rate will be driven by the financing amount. Starting at 5.75 per cent, the profit rate goes lower as financing amounts go higher.
Additionally, customers can take a free pre-approved covered card for the first year. ADIB will charge no processing fees for the financing.
ADIB’s Al Khair financing provides liquidity to customers enabling them to settle their financial liabilities and conventional bank loans and begin a new financing relationship with ADIB in line with Sharia principles.
Financing solutions
ADIB offers all types of financing solutions including car finance, educational finance, travel finance, share finance, boat finance and general finance.
Sarvesh Sarup, Head of Retail in ADIB, comments: “Through this offer, we seek to help customers manage their budgets during Ramadan and the Eid holiday period. This gesture during Ramadan would encourage customers to convert their conventional debts into Islamic solutions and we hope to be their finance provider of choice.”
“During Ramadan, customers need to have flexible financing solutions to cope with additional expenses, and this gesture is part of our efforts to support them with services that answer their specific needs.”
New customers
New customers interested in the offer can register at any ADIB branch during the Holy Month of Ramadan, or until September 30.
new service
zakat
Abu Dhabi Islamic Bank (ADIB) has launched a new service to collect zakat money on behalf of Zakat Fund through the bank’s ATMs, dialing *161# etisalat on mobile phones or by visiting one of the bank’s branches.
These bank services mark the start of the Memorandum of Understanding between ADIB and Zakat Fund.
Abdullah Bin Aqeeda Al Muhairi, Secretary General of Zakat Fund, said: “Cooperating with such a reputed bank like ADIB reflects the success of our operating plans, programs and strategies which aim at facilitating the collection, calculation and disbursement of zakat money through collaborating with various social establishments and authorities in the country.”
Al Muhairi said ADIB has showed interest in helping Zakat Fund to collect zakat money by preparing the bank’s ATMs to accept zakat money, Zakat Al Fitr and all other charities from payers including the bank’s customers. “We highly appreciate the interest of ADIB’s management and their efforts in activating the services of collecting zakat money from its customers, the thing which would eventually help increase Zakat Fund revenues,” said Al Muhairi. Trad Mahmoud, CEO, ADIB, noted services offered on behalf of Zakat Fund are in line with the social services the bank is keen to offer at all its branches.
— Staff Report
Staff Report
Gulf News 2010. All rights reserved.
