• The new feature will allow existing customers to avail up to 50% of net salary before the usual payday by using the bank’s dedicated mobile app
  • Product will be offered to salaried individuals with a minimum income of AED 5K per month

Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, announced the launch of its salary advance product ‘Yusr- ADIB Salary Advance’. As part of its commitment to providing innovative Sharia-compliant products and services, the bank will allow its customers to avail an advance salary amount instantly based on Murabaha structure.

The new product “ADIB Yusr Salary Advance Finance” can be accessed through mobile banking app and is designed to help existing ADIB salary transfer customers, both UAE Nationals and expatriates, to manage their financials and fulfil their short-term funding needs. This product aims to provide convenience and assist customers to access up to 50% per cent of their salaries, with a maximum amount of AED50,000, in advance till the next salary transfer.

Samih Awadalla, Acting Global Head of Retail Banking Group at ADIB, commented: “Introducing “ADIB Yusr Salary Advance Finance” Product is the result of our commitment to providing our customers with innovative digital products that cater to their everyday needs and also in line with the bank’s overall strategy of supporting customers leverage new opportunities through innovative products and features. 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.

The salary advance product is available to existing salaried customers whose salary has been credited to ADIB for at least the last three months. Customers can check their eligibility to apply for ‘Yusr’ through the mobile app.

ADIB’s efforts to be at the forefront of banking innovation have been widely recognized. The bank was awarded innovator Award by Global Finance Magazine. Over the past year the bank has launched Amwali, the UAE’s first digital banking platform designed to empower young people.  

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About ADIB

ADIB is a leading Islamic bank with more than AED 142 billion in assets that was established in 1997 with its shares traded on the Abu Dhabi Securities Exchange (ADX). Over 1 million customers benefit from its large distribution network of 62 branches and more than 379 ATMs. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. ADIB remains one of the leading banks in the recruitment, development and promotion of local talent. The bank has one of the highest Emiratisation ratios with more than 40 percent of the bank’s workforce being UAE Nationals. ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Iraq and Qatar.

Named “Best Islamic Bank globally” by The Financial Times’ The Banker publication and Best Bank in the UAE by Forbes, ADIB has a rich track record of innovation, including introducing the world’s first digital Islamic bank for youth and being the first bank in the UAE to enable account opening through facial recognition.

For media information, please visit www.adib.ae