Abu Dhabi Islamic Bank launches installment solutions in the United Arab Emirates in cooperation with Visa

The first banking group in the world to launch payments solutions VISAfully compatible with the principles of Islamic Sharia

Dubai United Arab Emirates: Abu Dhabi Islamic Bank, the leading Islamic financial institution, has entered into an agreement with Visa, a global leader in digital payments technology, listed on the New York Stock Exchange under the symbol (V), to provide holders of the bank’s covered cards in the United Arab Emirates with installment solutions for purchases provided by Visa.

Under this agreement, holders of Visa covered cards from Abu Dhabi Islamic Bank, when the service is available soon, can benefit from the Visa payments option, which allows customers to pay for eligible purchases in equal monthly payments at elite retailers, whether online or in stores, which It enables customers to manage their budgets effectively and bear the costs of larger purchases without any burdens.

This partnership comes in light of the growing consumer demand for installment payment options that are in line with their financial needs and preferences. A survey conducted by Euromonitor in the UAE confirmed that 48% of consumers find that installment purchases make high prices more manageable, while 37% believe that installments help deal with emergency expenses. Drawing on these data-driven insights, ADIB and Visa are committed to empowering consumers through an innovative installment solution that gives them financial convenience, greater flexibility, and an informed financing method. Moreover, the payments solution provides a flexible way to pay, as well as incentivizes the cardholder to use it and enhance business relationships.

Commenting on the partnership, the Global Head of Retail Banking at Abu Dhabi Islamic Bank said: “We realize that providing customers with transparent, safe and flexible installment solutions is crucial to managing their financial affairs efficiently. In response to this need, we are proud to be the first Sharia-compliant banking group in The region offers this new solution to our Visa cardholders. This collaboration will build on our financial expertise, Visa’s global network and its technological capabilities, to demonstrate our commitment to innovation and enhancing the customer experience. Visa cardholders covered by our bank can now benefit from seamless and hassle-free payment experiences with maximum Added value from the services provided.”

For her part, Salima Goteva, Vice President and General Manager of Visa in the United Arab Emirates, said: “We are excited to announce this strategic cooperation with our first banking partner in the UAE, Abu Dhabi Islamic Bank, which comes in response to the growing demand for installment payment solutions in the country. “Especially for large purchases, such as home appliances, electronics, jewelry, and educational expenses. We believe that this innovative offer will address the growing needs of consumers, and will contribute to stimulating the digital transformation of the UAE market at the same time.”

This latest addition to Abu Dhabi Islamic Bank’s diverse covered card portfolio reflects the bank’s commitment to providing exceptional services to its customers and responding to their changing banking requirements.

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