ADIB launches new service for instant fund transfer between Abu Dhabi & India

ADIB launches new service for instant fund transfer between Abu Dhabi & India

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has launched a new service that 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 remittance 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 the 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 and 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.

The UAE is the second largest remittance sender in the world, while India is the largest recipient of remittances. With over 3.5 million Indian citizens working in the UAE, the