Abu Dhabi Islamic Bank (ADIB), one of the emirate’s leading Islamic financial institutions, has launched a salary advance product ‘Yusr- ADIB Salary Advance’, as part of the bank’s commitment to provide customers Sharia-compliant products and services.
Through this feature, customers will be able to get an advance on their net salary instantly, subject to Murabaha structure.
Customers can access up to 50 percent of their salaries, with a maximum amount of AED50,000 in advance until the next salary transfer, the lender said in a statement.
“We have observed that people sometimes face difficulty in bridging the gaps for their regular payments prior to receiving their regular monthly salary. The new product is developed in response to customers’ needs who normally pay such expenses through either card payment plans or seek alternate financial support,” ADIB’s acting global dead of retail banking group Samih Awadalla said.
The salary advance product is available to existing customers whose salary has been credited to ADIB for a minimum of three months.
The new service can be accessed by customers through the bank’s mobile banking app, and check their eligibility to apply for ‘Yusr’.
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