Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, said it will postpone personal customer August installments during Ramadan.

Installments will be automatically postponed until Sept 2010 and customers are not expected to pay their installments for the months of August 2010, Adib said in a statement.

The postponement of installments applies to customers of finance products including liability settlements, car finance, educational finance, travel finance, shares finance, and goods finance.

'This postponement will be welcomed by customers as their expenses will increase during the month of Ramadan due to reopening of schools and return from holidays with a backdrop of rising living costs,” said Sarvesh Sarup, head of retail banking, Adib.

“This is a way for us to help those who have helped make us one of the leading Islamic banks in the region. It is also a clear demonstration to our customers of the concept of banking as it should be,” he added. – TradeArabia News Service