End of Service Benefits
What happens to your accounts and liabilities when you change or lose your job
What happens to your accounts and liabilities when you change or lose your job
What happens to your Emirates Islamic Accounts and Liabilities when you change or lose your job
If you have a salary transfer account with Emirates Islamic, your employer will most likely transfer your End of Service Benefits (EOSB) to this account. If you have liabilities with the Bank in the form of a finance or credit card, access to your EOSB will be restricted until you provide us with your new employment details or your liabilities are cleared.
The Bank may take the following actions:
If you have a credit card:
If you have a finance:
Overdue payments or delinquency:
You can release the hold on your EOSB by:
If you have a personal finance with Emirates Islamic, your new salary must be transferred to us. Simply provide your new employer with your account details along with a new salary transfer letter so that they can continue to transfer your salary to us.
You can contact our 24-hour Call Centre on +971 600 599 995 and one of our customer service representatives will be happy to help you.
Yes, you should inform the Bank if you have liabilities with us, including finances or credit cards. You will need to provide us with your new employment details or pay off your dues failing which your EOSB will be blocked and/or your accounts frozen.
Yes, in certain cases, the Bank has the right to block your EOSB if you are delinquent in any of Emirates Islamic’s liabilities, as specified in the applicable Terms and Conditions.
Yes, you will be notified when the EOSB is received and if it is put on hold in whole or in part.
Yes, you can continue with the salary transfer account as long as your new employer transfers your salary to Emirates Islamic as a salary transfer.
When you move to a new job, you are required to provide a salary transfer letter or salary certificate. We recommend that you update your details with us so we can offer you the most suitable products for your salary bracket. Learn how to update your employment details.
No, the total agreed profit under the Murabaha will not be changed. However, you can only transfer the salary to another bank once you have settled your liabilities with Emirates Islamic.
If you have Credit Card or Auto Finance:
If you have Personal Finance:
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