- Dubai Islamic Bank will postpone July loan payments for affected customers.
- The deferral is due to a glitch during a system upgrade and will not impact credit ratings.
- Customers will also receive compensation through the bank’s Walaa rewards program.
Dubai Islamic Bank (DIB) has announced that it will defer July loan instalments for customers affected by a recent system error. The glitch occurred during a transition to a new, more secure cloud technology platform, causing delays in salary withdrawals for some employees.
The bank clarified that these deferrals will come at no extra cost to the customers and will not affect their credit ratings.
Dubai Islamic Bank Announces Loan Payment Deferral After System Glitch
The bank has emphasized that this deferral will not negatively affect customers’ credit ratings. This measure is part of DIB’s broader effort to support its clients’ financial stability during the transition period caused by the technical issues. Customers will be informed of these changes directly by the bank.
In addition to deferring loan payments, DIB is waiving any late payment fees that might have accrued due to the glitch. The bank is also offering compensation through its Walaa rewards program, which provides various benefits and offers to affected customers.
DIB’s proactive approach aims to address the immediate challenges faced by its clients and provide them with more manageable financial solutions during this period. The bank’s commitment to customer service and financial stability remains a priority.
Dubai Islamic Bank’s decision to defer July loan payments and waive related fees reflects its dedication to customer support during unforeseen technical difficulties. The initiative helps mitigate financial strain for affected clients and reinforces the bank’s commitment to maintaining customer trust and stability.
“Dubai Islamic Bank will ensure that the loan instalment deferment for July will be done at no extra cost for affected employees,”
