Certain residents with loans from Dubai Islamic Bank (DIB) will not be required to make their July payments this month. This deferment applies to employees who were unable to withdraw their salaries in June due to a malfunction in the bank's systems. The bank explained that these system errors occurred while DIB was upgrading to a "more secure, safe, and reliable cloud technology system". In a recent statement, DIB confirmed that the deferment of loan instalments for July will incur no additional costs for the affected employees.
"This ensures that there will be no detrimental effects on the credit ratings of the involved parties," the bank added. This measure is part of DIB's efforts to support the financial stability of its customers, ensuring they do not face the strain of paying two instalments in a single month. DIB will ensure that all affected customers are notified about this initiative.
This step is also intended to alleviate any immediate difficulties customers might encounter and to offer them a chance to manage their cash flows more effectively and conveniently, according to the bank. Recognizing the inconvenience caused by the glitch, DIB previously announced that it would waive any late payment fees or other charges associated with the errors. Additionally, those affected will be compensated with Walaa rewards, the bank's loyalty program, which can be redeemed for various offers.
