Dubai Islamic Bank to Deduct Unprocessed Transactions After System Upgrade

Dubai Islamic Bank to Deduct Unprocessed Transactions After System Upgrade

Dubai Islamic Bank (DIB) has announced that it will deduct funds for transactions processed during a system upgrade earlier this year that were not debited from customers’ accounts at the time. Customers received emails from the bank last week informing them of the situation.

The bank explained that during the upgrade, some transactions made on DIB cards were processed by payment networks but did not reflect in customers’ accounts. Now that the system has stabilized, DIB plans to recover these amounts from the affected customers.

In a statement, the bank said, “Having achieved the required level of system stabilization, the bank is now in a position to go ahead and recover the amounts from respective customers.”

Earlier in June, DIB had acknowledged that customers experienced service-related issues during the upgrade, which was necessary to enhance banking services. In July, the bank reassured customers that they would not incur late payment fees or other charges due to the system errors stemming from the upgrade.

To keep customers informed, DIB is sending a series of messages, starting with an email detailing specific transactions, followed by multiple SMS notifications for the affected transactions. The bank emphasized the importance of informing customers about any activity on their accounts and allowing them time to ensure sufficient funds are available.

Established in 1975, DIB is the largest Islamic bank in the UAE by assets, with over 10,000 employees and around 500 branches across the Middle East, Asia, and Africa. The bank serves more than 5 million customers, offering a wide range of Shariah-compliant products and services.

DIB urged customers to maintain adequate balances in their accounts to avoid going below zero, taking into account any other financial commitments such as cheques and direct debits.

The bank expressed its commitment to resolving any concerns swiftly and transparently, appreciating customers’ understanding and cooperation during this process.

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