Abu Dhabi Islamic Bank enables cross-border instant INR currency transfers from the UAE using SWIFT gpi Instant

Abu Dhabi Islamic Bank enables cross-border instant INR currency transfers from the UAE using SWIFT gpi Instant

- Cross-border payments can be delivered instantly using ADIB Mobile App and Internet Banking

- The new service is available 24/7 and provides confirmation of receipt

Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, today announced the launch of a new service which allows customers to transfer funds instantly from the UAE to recipients in India as part of the bank’s commitment to innovation and introducing next-generation of payments and remittances services. The service is available 24/7 and allows customers to use their mobile application or internet banking to make transfers without the need to withdraw cash or visit a transfer office. Customers also receive updates and notifications, including an optional receipt for confirming delivery of the funds.

The service was launched in partnership with SWIFT, a financial messaging services provider, and ICICI, an Indian clearing bank. The partnership links SWIFT’s Global Payments Innovation (gpi) to ADIB and ICICI’s local infrastructure. It eliminates delays, provides a fast, secure, and convenient way to transfer funds.

Previously, cross-border fund transfers would often be delayed when being processed by the local clearing infrastructure. The introduction of SWIFT gpi Instant eliminates these delays, providing a fast, secure, and convenient way to transfer funds.

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