ADIB Business Gold Covered Card
Abu Dhabi Islamic Bank commonly called ADIB is one of the leading shariah-compliant financial institutions in the UAE. ADIB was established in the year 1997 but the operations commenced in the year 1998. The bank has a paid-up capital of approximately AED 1 billion and trades in the Abu Dhabi stock exchange (ADX).
ADIB is known for its world-class shariah-compliant services and has managed to gain immense popularity within the UAE market primarily due to their lucrative credit card offers. As a leading Islamic financial institution, ADIB has kept social and environmental concerns as their foremost priority and contributed to the overall growth of the economy.
Features and Benefits of ADIB Business Gold Covered Card
- Credit Limit: The maximum available credit limit on the ADIB business gold-covered card AED 150,000.
- Cash Withdrawal: Cardholders can use the ADIB business gold-covered credit card in order to withdraw cash equivalent to the credit limit of the user.
- Chip and Pin technology: The ADIB business gold-covered credit card comes with advanced chip and pin technology that makes it safe and secure from fraudulence. Cardholders can set-up a numeric pin to ensure optimum security.
- Road Side Assistance: ADIB offers special roadside assistance services for cardholders.
- Supplementary Cards: ADIB provides four free of cost supplementary cards. For all the four issued credit cards the takaful amount would be linked with the primary card by default.
- Donation: Twenty percent of the total annual fee collected by ADIB will be donated to the football club that will be imprinted on your business gold-covered card.
- Damaged Cards: In case of damaged cards, cardholders are not supposed to pay anything if they return the damaged card to their branch.
- Free for the first year: ADIB business gold-covered cards are free for the first one year from the date of issuance.
- Grace period: ADIB offers a grace period of 55 days in order to make the payments of outstanding credit debts.
- Global Acceptance: ADIB business gold-covered card is globally accepted and can be used to make payments in different jurisdictions all across the globe.
- Online banking: ADIB offers safe secure online banking services for cardholders so as to facilitate quick and hassle-free services.
Fees and Charges
ADIB business gold-covered card provides fast, hassle-free and convenient credit services for residents of the UAE. Here’s a quick rundown on the fees and charges applicable to the ADIB card.
|Type of Fee||Amount in AED|
|Annual fee (principal card)||400|
|Supplementary Card annual fee||2%|
Other Fee and Charges
|Monthly profit Rate (Murabaha)||3% of the total amount|
|Cash withdrawal fee||AED 99|
|Obligatory fee (in case of late payment)||AED 100|
|Non AED transaction fee||3.1%|
|Receipt copy request for cash or retail||25|
|Card replacement fee||AED 100|
|Statement reprint fee||AED 50|
|Temporary increase limit fee||AED 50|
Card applicants need to submit the following documents to get the ADIB business covered gold card-
- Valid bank statements for the past 6 to 12 months depending on the business requirement.
- Original passport and copies of the passport of all the partners including details and copy of all partners including residence visa for signatories.
- Valid and original passport along with Emirates ID for the signers.
- Other documents based on the financing requirement of the applicant.
- Valid and original: Trading/professional license, chamber of commerce certification, commercial registration details and certifications, memorandum of association, amendments of the power of attorney, board resolution documentation if any along with others as applicable.
Q: What are the different ways via which cardholders can make the payment for their card bills?
Ans: Cardholders can make payments at more than 89 ADIB branches that are located all across the UAE. Furthermore, cardholders can visit any ADIB CCDM 24x7 in order to settle your credit card debts in the UAE. You can also make use of online or telephone banking to make payments based on the convenience of the cardholder.
Q: What is the grace period? How does it benefit the cardholder?
Ans: The grace period may be defined as the time in which the cardholder is supposed to settle all outstanding debts so as to avoid the imposition of late fees and other charges. The ADIB business gold covered card offers a grace period of 55 days. Cardholders are allowed to hold the outstanding payment for 55 days after which defaulter and late fees will be applicable over the outstanding debt in the UAE.
Q: Would I get any welcome discount or offer?
Ans: Cardholders applying for ADIB business gold covered business cards can enjoy the first year without paying any sort of fees and charges which is a welcome offer from the financial institution and the provider.
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