UAE Bank to Deduct Funds from Customers’ Accounts to Reflect Charges that Were not Debited during System Upgrade
Dubai Islamic Bank (UAE) elaborated that the relevant account holders have been pre-emptively informed about the outstanding transactions
Dubai Islamic Bank (DIB) has sent out an e-mail saying it will deduct money that was processed during the system upgrade earlier this year but was not debited from customers’ accounts.
Last week, some of the bank’s customers received e-mails from the lender that due to the recent system upgrade, their transactions were successfully processed by the merchants. However, the transactions weren’t debited from their accounts at the time.
“During the system upgrade activity executed mid-2024, certain transactions conducted by customers on their DIB cards were processed by the relevant payment networks but not debited to the account of the customers at the time. Having achieved the required level of system stabilisation, the bank is now in a position to go ahead and recover the amounts from respective customers,” Dubai Islamic Bank said in a statement to Khaleej Times.
In June, the UAE’s largest Shariah-compliant bank said that some of its customers encountered service-related issues while upgrading certain banking services which was essential to enhance the quality of its banking services.
In July, it stated that its customers would not be charged for late payment fees or other charges caused by the system error during the upgrade.
“However, in order to ensure that the customer is informed of any activity being performed on the account, and to keep the customer informed before conducting a debit as well as to allow them adequate time to fund the account or clarify with the bank, a series of messages starting with an email detailing the specific transactions followed by multiple SMSs’ have been initiated for affected customers for the pending transactions which were successfully processed by merchants at the time,” said the statement.
Established in 1975, DIB is the largest Islamic bank in the UAE by assets. The group employs more than 10,000 staff and around 500 branches across the Middle East, Asia and Africa. Serving over 5 million customers across the group, DIB offers a wide range of Shariah-compliant products and services to retail, corporate and institutional clients.
The bank elaborated that the relevant account holders have been pre-emptively informed about the outstanding transactions and Dubai Islamic Bank has undertaken appropriate steps to minimise any inconvenience to its customers.
It advised customers that to avoid their account balance from going below zero, they must ensure they have sufficient funds in their accounts to cover the transactions in addition to any other commitments that they may have such as cheques, direct debits, standing instructions etc.
“We are committed to resolving any concerns swiftly and transparently, ensuring that all our stakeholders are supported through any changes in our systems. We deeply regret any inconvenience this may have caused, and appreciate the understanding and cooperation of all our customers,” said the statement.
Source: Khaleejtimes
