Abu Dhabi, 21 March 2020:
Abu Dhabi Islamic Bank (ADIB) has announced new measures to reduce the financial burden for individual and corporate customers, in line with the Central Bank of the UAE's Targeted Economic Support Scheme in response to COVID-19.
For retail customers, ADIB will be postponing the monthly installments of April for its personal finance customers to help them manage their finances during this challenging time. In addition to this,
personal finance customers impacted by the Covid-19 may get in touch with the Bank to discuss further support in line with the UAE Central Bank directions. Starting April 1st, customers will also receive up to 5% cash back per month on their grocery expenditure and when paying utility bills using any of the ADIB Cards for a period of 3 months. Cardholders will be able to benefit from instalment plans on all their card expenditures for a period of 6 months without any extra charges. Parents will also be able to pay school fees while benefiting from 12 months free of charge instalment plans or receive 5% cashback when paying with any of ADIB's covered cards. In the cases of emergency, ADIB will be offering free temporary limit increases on covered cards andfirst-time home finance customers will benefit from the 5% reduction in down payment.
For SME and
business banking customers, ADIB will be offering a 50% discount on charges related to online remittances and cheque book requests. ADIB is encouraging all its business banking customers to get in touch with their relationship managers to assess the impact of the Covid-19 on their businesses to provide further support in managing their facilities to ease any liquidity disruption and help sustain their business operations.
For large corporates, ADIB is committed to support all its corporate and institutional customers to navigate the many different financial challenges in line with the UAE Central bank directives. Our dedicated team is working in close coordination with customers to discuss any concerns they might have and find optimal and workable solutions for all of those impacted by the COVID-19 situation.
Commenting on the financial relief programme, Mazin Manna, Group Chief Executive Office at ADIB, said: " ADIB is introducing these measures in alignment with recent UAE government and Central Bank directives to support individuals and businesses impacted by the situation. We recognise that these are uncertain and challenging times, and we want all our customers to be assured that we are here to support.
"As we contribute to the community's efforts to battle COVID-19, we are encouraging all our customers to complete their banking transactions digitally through our online banking platform or mobile app. If customers wish to conduct their banking in person, ADIB branches are currently operational. We have enhanced precautionary hygiene and cleanliness measures across all our premises and are implementing rigorous health and safety guidelines and working practices to promote the wellness of our employees and customers."
Customers can log onto ADIB's online banking or mobile app to benefit from a 24/7 self-service, where they can access their accounts to make payments, view transactions, apply for finance and covered cards, check balances, transfer funds or find an ATM amongst other services. Corporate clients can access 'ADIB Direct', the dedicated business-focused digital banking platform that allows corporate customers to view their account information and transact in real time from PC and mobile devices.
ADIB will be implementing the above card programs starting 1st April 2020. An SMS will be sent to customers to benefit from these programs.