The Abu Dhabi Islamic Bank (ADIB) is a major bank in the UAE providing a range of financial products and services. The bank is a major issuer of credit cards in the UAE and is represented by its branches located throughout the country.
This is the first Islamic Visa Business Covered Card launched in the UAE. The card is meant to provide efficiency and liquidity by providing extra flexibility as well as safe alternatives to cash payments.
Features of Business Gold Covered Card
As the name implies, this card is most useful for the business community to streamline fund flow for their internal or external expenses. Key features of this credit card are:
- Up to AED 150,000 covered card limit.
- Unlimited free access to airport lounges in Abu Dhabi and Dubai.
- Free roadside assistance with AutoPal, with 1 free vehicle registration in a year, and a luxury chauffeur-driven car for 24 hours in case of accidents.
- Chip & PIN security for greater convenience and safety.
- 60% cash withdrawal limit.
- 55 days grace period.
ADIB typically asks for less documentation for faster and hassle-free application and processing of cards. Major documentation requirements include:
- Residence visa for signatory.
- Original passport.
- Applicants of joint accounts should have all the documents for each individual, all of whom have to be present at the time of applying for the card.
- MOA and related amendments and POA’s, if any, trade license and commercial registration.
Basic charges are applicable on ADIB Business Gold Covered credit cards that are levied monthly, yearly or as a one-time fee. Some of the important charges are:
- Annual subscription fee of AED 400.
- Annual principal card fee of AED 400.
- Annual fee on supplementary card of AED 100.
- 2% monthly profit rate.
- 3% cash withdrawal fee, not less than AED 90.
- AED 100 for replacement of lost or damaged cards.
- Minimum due amount to be paid is 10%.
- Late payment donation of AED 100.