Image Credits - Khaleej Times
The bank issued a statement today acknowledging the inconvenience caused by the issue and outlining its plan to support affected customers.
The glitch occurred earlier this week and disrupted the bank’s salary processing system, affecting a substantial number of employees who receive their paychecks through the institution. As a result, many clients found themselves unable to make their scheduled loan payments on time, leading to concerns about potential penalties and financial strain.
In response, the bank has decided to grant a one-month moratorium on all loan installments due in July. This measure is intended to alleviate immediate financial pressure on affected clients and provide them with time to stabilize their financial situation. The institution has emphasized that no late fees or penalties will be incurred during this period.
The bank has assured clients that it is working diligently to resolve the underlying issue and prevent future occurrences. Additionally, affected customers are advised to contact the bank’s customer service department for personalized assistance and to address any specific concerns related to their accounts.
Industry experts have noted that such glitches, while rare, highlight the critical importance of robust IT systems in the financial sector. The incident serves as a reminder of the potential impacts of technological failures on day-to-day banking operations and client financial stability.
The Dubai bank has promised to keep clients updated on the progress of the system restoration and any further developments. For now, the postponement of loan installments provides a temporary relief to those facing unexpected delays in their salary payments.