Important Announcement

Dear Valued Customer,

As you are aware, after working over the last month to transform our core banking systems, we have recently concluded the upgrade of our banking platform to a more secure, safe and reliable cloud technology system.

The transition to a new system was critical in order to elevate ourselves to the latest technology & security requirements that meet the demands of our varied customer base.

We are mindful of the teething issues being faced by some of you and would like to assure you that we are taking immediate and ongoing steps to resolve them.

Valuing your relationship and as a token of our appreciation for your ongoing support, patience and loyalty we will be compensating in the next few days all affected customers with Wala’a rewards which can be utilized across a variety of transaction categories in lieu of cash.

In addition, the following steps have been taken to further alleviate any issues faced by you:

1. No Late Payment Fees or Cheque Return Charges (if any) will be levied because of system errors
2. Any profit accrual due to settlement of Finance amounts will be reversed
3. Liability Letter issuance fees will be waived and a discount of up to 25% will be provided on Early Settlement Fees
4. AECB credit score will not be affected due to any related incident

We sincerely apologize for the inconvenience and stay committed and completely driven to deliver the highest level of service that our customers expect of us.

We would like to highlight that we have entered a stage of stabilization and we continue to iron out and smoothen our services as we move ahead.

Once again we thank each and everyone of you to have supported the bank in this much needed technological advancement.

Dubai Islamic Bank