Abu Dhabi Islamic Bank (ADIB) announced today it would be postponing one monthly instalment for its eligible personal finance customers at no fees or extra charges. The postponement aims to provide the banks customers with cash flow relief during the Holy Month of Ramadan, which is known to be a month of higher spending, as well as supporting customers in terms of better managing their mid- to long-term financial commitments.
Offering payment flexibility on financing during the Holy Month has been an annual tradition for ADIB, which is part of the bank’s efforts to address and cater to customers’ individual finance requirements.
Philip King, Global Head of Retail at ADIB, said: “ADIB continues its annual tradition of providing financial relief during the holy month of Ramadan. The last twelve months has been very challenging for many families and we want to help each and every one of our customers with their finances, whether through delivering new products and services that alleviate their current situation or by helping them in managing their financial needs more efficiently.”
Eligible Customers for the Ramadan instalment postponement initiative will be contacted via SMS with an option to postpone their Personal Finance instalment(s). Customers can read and understand the T&C’s of the program, uploaded on the link in ADIB SMS and will be required to provide their consent via SMS, should they wish to postpone their instalment payments.
The offer is valid for instalments due between April 11 and May 10, 2021.
In 2020, ADIB supported the country’s economic recovery by helping customers through the deferral of finance repayments and fee waivers to help alleviate the financial pressures faced by individuals and businesses. The bank also launched several innovative solutions that enable customers to conduct their banking transactions in a flexible, convenient and secure way.
A RFi Research conducted in the second half of 2020 found that 73% of ADIB customers said they were extremely satisfied with the bank’s measures to ease the impact of the pandemic, and that the Bank has the UAE banking industry’s highest Net Promoter Score, a metric measuring the likelihood that customers would recommend a bank, for its overall customer relationships, branches, accounts and cards.
