Abu Dhabi bank postpones loan instalments during Ramadan

Abu Dhabi Islamic Bank said those eligible for the offer would be contacted by text message
Abu Dhabi bank postpones loan instalments during Ramadan
Abu Dhabi Islamic Bank (ADIB) has postponed monthly instalment for its personal finance customers at 'no extra charge' during the holy month of Ramadan.
By Shane McGinley
Mon 13 May 2019 09:45 AM

Abu Dhabi Islamic Bank (ADIB) has postponed monthly instalment for its personal finance customers at 'no extra charge' during the holy month of Ramadan, the bank said in a statement issued by the WAM state news agency.

Customers eligible will be contacted by text message, with the postponement in payments initiated automatically, the statement added.

The offer is valid throughout the month of May.

Philip King, Global Head of Retail at ADIB, said: “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."

In April, Bloomberg reported that ADIB was in talks to merge with First Abu Dhabi Bank (FAB) creating the Middle East’s largest lender.

However, a spokesperson for FAB told Arabian Business in a statement: “Whilst the bank does not comment on speculation, FAB strongly denies the report issued by Bloomberg on the potential merger between FAB and ADIB.”

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.