Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced today that it would be postponing a monthly instalment for its personal finance customers at no extra charge. The postponement will help ADIB’s customers manage their finances during the Holy Month of Ramadan, which is known to be a month of higher spending.
Offering payment flexibility on financing during the Holy Month has an annual tradition for ADIB, which is part of the bank’s efforts to address and cater to customers’ individual personal finance requirements.
Philip King, Global Head of Retail at ADIB, said: “Addressing our customers’ needs and exceeding their expectations has always been at the core of what we do at ADIB. This holy month, we will offer our personal finance customers flexible payments as we are mindful of the high spending needs. We continue striving to provide our customers with high-end products and customized services that aid them in managing their financials efficiently and through a seamless experience.”
Customers eligible for the Ramadan payment postponement initiative will be contacted by SMS, with the postponement made automatically. The offer is valid for instalments due between May 1 and May 31, 2019. Customers are free to opt out, should they wish to continue making instalment payments.
Throughout the year, ADIB provides support to customers with managing their finances. The Al Khair debt consolidation programme enables customers to reduce their monthly instalments by 30% on average. The bank has also created a specialised unit to provide assistance to customers facing challenging financial situations.
The unit works with customers to develop tailored debt management plans and offers them guidance on reducing debt and managing their financial obligations. In order to qualify for postponement, customers must be up-to-date with their payments, having paid more than three previous instalments and must have a salary-transfer arrangement in place with the bank. There is no fee associated with the offer.
ADIB has a long-standing track record of CSR initiatives to reinforce and maximise its contribution to society, particularly during the Holy Month of Ramadan. Throughout Ramadan, ADIB is hosting a number of Ramadan tents across the UAE hosting Iftars managed by ADIB’s employees who have volunteered to be part of the initiative.
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About ADIB
ADIB is a leading bank in the UAE with more than AED 124.6 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).
In the UAE, the Bank has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent in all the markets in which it operates. The bank has one of the highest Emiratization ratios with approx. 36 percent of the bank’s workforce being UAE Nationals.
ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan and Iraq.
Named World’s Best Islamic Bank by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Etihad and Etisalat and a wide range of financing products.
For media information, please visit www.adib.ae or contact:
ADIB Brunswick Group
Radwa Shehab Sarah Abdelbary
Head of External Communications Account Director
Direct: +971 2 6910169 Direct: +971 2234 4600
Mobile: +971504734482 Mobile: +971561748649
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