Home News Abu Dhabi Bank allows early withdrawal of 50% of wages

Abu Dhabi Bank allows early withdrawal of 50% of wages

by Dubai Forum
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Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), one of the UAE’s leading Islamic financial institutions, has launched a new feature that allows customers to withdraw up to 50% of their wages before the usual payday.

Abu Dhabi Bank has announced the launch of its salary advance product, ‘Yusr-ADIB Salary Advance’, as part of its commitment to provide innovative Shariah compliant products and services.

According to the press release, the bank will allow its customers to withdraw the salary advance amount immediately under the Murabaha structure.

The product is designed to facilitate and help customers earn up to 50% of their wages up to AED 50,000 until the next wage transfer. It will be offered to individuals with a minimum wage of Dh5,000 per month.

The payroll product offered is for existing clients whose payroll has been deposited with ADIB for at least three months.

Customers can access the new service through the bank’s mobile banking app and check if they are eligible to apply for Yusr.

“We have observed that it is sometimes difficult for people to make up the gap in regular payments before they receive their normal monthly salary. New products are developed to meet the needs of customers who typically pay such fees through card payment plans or seek other financial support, ” said Samih Awadalla, ADIB acting global retail banking group.

DF

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