Dubai Islamic Bank discontinues its popular 'salary in advance' facility for customers

The most prevalent Shariah-compliant lender in the United Arab Emirates, Dubai Islamic Bank, has ended its popular 'salary in advance' service for clients.

Customers of many other local banks can also make use of this service. The 'Salary in Advance' feature offered by DIB was another well-liked offering among people who wanted to reduce their expenses. When faced with financial difficulties or other pressing personal requirements, a lot of UAE citizens choose to utilize this resource. Customers could apply for advance salary through ATMs or online banking by paying a few hundred dirhams for the service.

The bank saw unprecedented profits last year, marking a turning point in its history. The Dubai Islamic Bank Group reported a Dh7 billion net profit for 2023 last month, which represented a 26% annual increase from the year before due to increased non-funded revenue and decreased impairment charges.