DIB salary advance Legal advice, Legal Guidence, Legal service, Uncategorized

Comprehending DIB salary in advance

 

In case you need money for an emergency or any unforeseen situation, you can opt for the DIB salary advance. However, this benefit is only for Dubai Islamic Bank clients who receive their salary there. This benefit is easy to obtain since you do not need to go through cumbersome procedures or provide numerous documents.

In this article, you will get all the information you need to learn about this benefit granted by said bank. In addition, you can find out the terms and conditions that you must accept to enjoy the salary advance. Let us see:

  1. What is the Dubai Islamic Bank Advance Salary?
  2. How does the DIB Salary Advance work?
  3. Eligibility and age limit for salary in advance
  4. How can you apply, and when will you receive the Dubai Islamic Bank Salary Advance?
  5. How are claims resolved in case of unforeseen events? What determines the termination of service?
  6. How can we help you learn more about the DIB salary advance?

1. What is the Dubai Islamic Bank Advance Salary?

dib salary advance

The Islamic Bank of Dubai has created a salary advance to solve the emergencies of the workers. In this case, they offer this service for those clients whose pay is credited in the said banking institution. These loans are common in Europe, America, and Africa, and now you can enjoy the DIB salary advance in UAE.

In addition, the process is easy; you just have to accept the terms and conditions that the bank has established. In this way, workers can make an early withdrawal of their monthly salary, for up to 90% of it. However, you must pay DIB salary advance charges totaling AED 525.

In addition, 90% is to the net salary of the worker, after mandatory deductions from payment. In addition, whoever receives it, must make the payment of the amount of the advance on the last day of the month in which he received the advance. However, you must not exceed the first day of the following month or you will face DIB salary advance late payment charges.

2. How does the DIB Salary Advance work?

Salary advance payment It consists of 90% of the net salary of the worker in the month requested. You can also withdraw the respective amount at a DIB ATM Dubai or by cheque at a bank branch. Additionally, you can request said advance, as long as you return the payment at the end of each month. Similarly, you must accept the terms and conditions established for this benefit.

2.1 Terms and conditions of service

Some of the terms and conditions that you should know about Dubai Islamic Bank Advance Salary are:

2.1.1 Prevalence of these terms and conditions

In addition, apart from the terms and conditions of the bank in general, the salary in advance will be governed by these. Therefore, in case of any discrepancy or conflict, these terms will prevail.

2.1.2 Eligibility

The Dubai Islamic Bank salary advance service is only for clients whose salary is transferred to the said institution. Moreover, only the bank has the power to define who is acceptable to receive the benefit. Therefore, the bank is the one that establishes the definitive selection criteria for the advance salary.

2.1.3 Duties of the client

The client must undertake to maintain the transfer of the salary solely and exclusively to the Dubai Islamic Bank. That is, you could not transfer said payment to another financial institution without the consent of the Bank.

Nevertheless, the client irrevocably accepts that he obtains the benefit of the advance salary DIB for his work with his local employer. Therefore, the client must inform the bank in case of changing jobs or employers during the duration of this service. Likewise, the bank has the right to require from the client the necessary documents for this purpose.

Also, the bank will be able to receive from the previous employee the pending amount obtained through the benefit.

2.1.4 Return to the bank the DIB salary advance

The recovery of the Dubai Islamic Bank salary advance amount from the client will be made upon receipt of the salary. In addition, this should not exceed the last day of the month of the advance or the first date of the following month.

2.1.5 DIB salary advance charges

Dubai Islamic Bank will charge a one-time fee for the service, regardless of the amount withdrawn by the customer. In addition, the terms and conditions state that the client authorizes the bank to debit the outstanding amount. Likewise, you must acknowledge that these charges will be debited from the savings or checking account that you maintain at the Bank.

This is independent of the account being in any currency. Additionally, the bank is not required to remit said collection for the approval of the client.

2.1.6 Using the Dubai Islamic Bank salary in advance service

The client can opt for the DIB salary advance service only once a month. Therefore, if you want to continue applying at other times, you must apply separately each time. Likewise, you can only enjoy the benefit for an amount that is not greater than your net salary.

This means that you will only be able to request the corresponding salary after the deduction of the obligations. Thus, if there is a reduction or deduction from the salary credited, the bank can reduce the amount of the credit or eliminate it without prior notice.

On the other hand, the client will only be able to receive the salary in advance in the official currency of the United Arab Emirates, the Dirham.

2.1.7 Rights of the bank

The bank may make amendments to the terms and conditions, including applicable fees, at any time. In addition, the bank will post these amendments on its website, and it will be sufficient notice to the customer. Therefore, in any dispute, the bank is the one that establishes the final solution.

Likewise, the bank may request any other type of guarantee in addition to the transfer of the salary to the entity. In this case, the client is obliged to present the guarantee at any time, even after receiving the benefit.

The bank, even when it delays its offer to the client, can initiate a legal process against it, if it does not repay the loan. In addition, the client is the one who must pay the expenses and legal fees incurred by the bank in this particular case.

2.1.8 Acceptance of the terms and conditions of the service

When the client signs the service form and the terms and conditions (physical or digital), he acknowledges that he has read and accepted them. In addition, it means that you have understood each of the conditions and their content. It also confirms that the bank can make the necessary changes.

2.1.9 Other considerations

The terms and conditions of the Dubai Islamic Bank advance salary service are subject to the laws of the UAE. In addition, they are governed by the regulations of the Central Bank of the United Arab Emirates. However, this occurs as long as such laws and regulations do not conflict with Sharia law. 

In the latter case, the standards established by the AAOIFI and those of the Internal Sharia Supervision Committee of the bank (ISSC) will prevail. In addition, the competent court in the UAE will hear any dispute over or in connection with the terms and conditions.

On the other hand, if there are inconsistencies between the Arabic and English texts, Arabic will prevail until the inconsistency is resolved.

2.1.10 Customer commitments to collect the debt

When you sign the terms and conditions for the DIB salary advance, concerning collection, you authorize the bank to:

  • To have the bank assign your account to any of the nationally or internationally authorized collection agents. This is to monitor and recover the amounts owed, as well as the filing of legal proceedings.
  • In addition, they authorize the bank to provide said agents with all necessary financial information.
  • Likewise, they consent to collection agents visiting the place of work or home of the client to carry out the respective follow-up.

3. Eligibility and age limit for salary in advance

To receive the DIB salary advance, you must meet the eligibility criteria established by the bank. First, you must be a recipient of your regular salary through the Dubai Islamic Bank. However, there are age criteria to receive this benefit and they consist of the following:

  • The minimum admission age is 21 years.
  • The maximum age is 64 years. However, the maximum insured age is up to 65 years.

Therefore, people who meet these criteria can apply for a salary advance. It should be added that they can also do it through a DIB cheque deposit machine.

4. How can you apply, and when will you receive the Dubai Islamic Bank Salary Advance?

To request the DIB salary advance, the bank has available several methods for this purpose. You can request through the following channels:

  • Online, by logging into the Al Islami web platform.
  • Via the Dubai Islamic Bank mobile app. 
  • Via SMS, by sending a message with the word “SIA” to the number 4222. However, this method is only available to registered users of Al Islami SMS Banking.
  • Through AL Islami telephone banking.
  • Using any DIB ATM Dubai.
  • By visiting any of the Dubai Islamic Bank branches.

On the other hand, the approval of the salary advance request will be received immediately, crediting the funds directly. In addition, you will receive a free takaful equal to the amount of the requested advance.

5. How are claims resolved in case of unforeseen events? What determines the termination of service?

In the case of some type of unforeseen event after the start date and during the coverage period, this is:

  • Death from any cause not excluded by the plan.
  • Total permanent disability of the insured.

In both cases, the plan states that the company must reimburse the insured for the DIB salary advance of up to AED 13,500.

5.1 Events that cause the termination of the service

The situations that define the termination of the DIB salary advance benefit are the following:

  • That the company where the employee works close the payroll account that he has in the Islamic Bank of Dubai.
  • In case of claims due to the death or permanent total disability of the worker.
  • The insured reached the maximum age limit established in the plan.
  • The Dubai Islamic Bank salary advance can be canceled by the bank at any time according to the terms.
  • If the plan expires on the established date and the bank does not renew it.

6. How can we help you learn more about the DIB salary advance?

The DIB salary advance is a quick solution for when you need money for an emergency or any unforeseen event. In addition, it does not require filling out extensive paperwork, just meeting the eligibility criteria defined by the bank. Additionally, you can request this advance each month, as long as you pay the debt of the previous one.

On Connect Legal, we can help you carry out this process and understand the legal commitments when accepting the terms.

We are a highy-experienced team in many legal matters. For this reason, we can always help you solve your legal problems in the following areas:

Connect Legal

We offer you our lawyers‘ legal expertise to help you understand the conditions of the Dubai Islamic Bank Advance Salary. You can contact us by calling at the number +971 433 16 688. You can also send us your questions at contact@connectlegal.ae and we will gladly address your concerns and legal queries. Do not hesitate and request a callback!

The best job opportunities await you on thetalentpoint.com, all you have to do is register and start applying! Similarly, you can send your resume to the email address contact@thetalentpoint.com.

Hena Babu

Hena Babu
I am Hena Babu doing LLB commercial law at Middlesex University Dubai. I am originally from in India but have been in the UAE for all my life. I am an avid reader and loves right and researching on topics that intrigues me. I have also inculcated a practice of writing blogs on various Legal related updates.

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