Abu Dhabi, 05 June 2017: Abu Dhabi Islamic Bank (ADIB) announced today that for the month of June it is postponing all instalments for its auto and personal finance customers at no extra charges. The postponement will help provide cash flow relief to customers during the holy month of Ramadan and Eid period, which is known to be a month of heavy spending for much of the population.
ADIB's initiative has become an annual tradition. Every year, the bank offers payment flexibility for its customers during the holy month as part as part of its efforts to meet and exceed customer needs.
Philip King, Head of Retail at ADIB said: "We at ADIB consider ourselves partners to our customers, offering them flexible payments in times that spending is known to be higher than usual. We always look to provide our customers with services that will help them manage their financials effectively. This initiative will allow customers to plan their holidays for the upcoming months in a relaxed way."
Customers eligible for the Ramadan payment postponement initiative, based on the type of financing, credit history and instalments, will be contacted by SMS and the postponement will be executed automatically. The offer is valid for instalments due between June 1st and June 30th 2017. Customers are free to opt out should they wish to continue to make instalment payments.
In order to qualify for postponement, customers must be up-to-date with their payments, have paid more than three previous instalments, and must have a salary-transfer arrangement in place with the bank.