Dubai: No late payment fee, other charges caused by system errors for DIB bank customers

Customers affected by the system upgrade by Dubai Islamic Bank (DIB) will not be charged of late payment fee or other charges caused by system errors, it was announced on Saturday, July 20.

The affected customers will also be “compensated in the next few days with Walaa rewards” – the bank’s loyalty programme that can be redeemed against a list of offers.

In a letter addressed to bank customers that was shared with Khaleej Times, DIB assured: “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.”

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“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,” the bank added.

DIB said the Walaa rewards can be utilised across a variety of transaction categories in lieu of cash, as “a token of our appreciation for your (customers) ongoing support, patience and loyalty.”

Aside from Walaa rewards, DIB said there will be no late payment fees or cheque return charges – if any – caused by system errors.

Any profit accrual due to settlement of finance amounts will be reversed. Liability letter issuance fees will be waived and a discount of up to 25 per cent will be provided on early settlement fees.

Moreover, AECB (Al Etihad Credit Bureau) credit score will not be affected due to any related incident.

DIBA reiterated: “We sincerely apologise 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 stabilisation and we continue to iron out and smoothen our services as we move ahead.”

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