Abu Dhabi, 07 April 2022: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, announced today it would be postponing one monthly instalment for its 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.
Customers eligible for the Ramadan instalment postponement initiative will be contacted by SMS, with an option to postpone their Personal Finance instalment automatically. Customers 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 15 and May 14, 2022.
Sameh Awadallah, Acting Global Head of Retail Banking at ADIB: “Addressing our customers' needs and exceeding their expectations have always been at the core of what we do at ADIB. Offering them flexible payments at times when spending is high shows that we are being mindful of our customer's needs. Our team is consistently working to deliver the best-customised products to our customers to ensure they have everything they need to make easy and simple financial decisions."
In addition to the postponement plan, ADIB is launching a raft of campaigns during the holy month, with community initiatives benefiting more than 1 million customers.
ADIB will roll out the “Ramadan Iftar Campaign" in collaboration with the Ministry of Interior and Abu Dhabi Police. The bank will distribute 50,000 Ramadan Iftar Boxes across the 7 Emirates in the UAE. In collaboration Ministry of Community Development, ADIB's Estidama Council, ADIB will also organise a Ramadan Iftar for 400 Senior Citizens.
On the partnership front, ADIB is sponsoring the Furjan tournament for the Ministry of Interior community. ADIB is a Bronze sponsor of the “Sheikh Mohammed Bin Rashed Global Initiatives – One Billion Ramadan Meal," with an allocated budget of AED 1-3 million benefiting 1 million community members. ADIB will also distribute Ramadan Boxes to 100 families through the sponsorship of “Ramadan Meer" by the General Women's Union.
Furthermore, ADIB will support the Zakat Fund for their Ramadan meal plan and will organize two webinars for the community. It will also form a strategic partnership with Red Crescent for a series of initiatives including the “ADAHI" campaign, Ramadan campaign, Winter campaign, education campaign, orphanage campaign and water campaign.