Losses incurred on investment: I would like to bring to the kind attention of my fellow readers regarding the financial loss and the time and emotional trauma suffered due to the Dubai Islamic Bank’s (DIB) Al Islami Takaful and saving programme in February, 2011.

I visited the DIB Mamzar branch and enquired about an investment programme. I was adviced to open an Al Islami Takaful and Savings Program for lump sum contribution by one of the salesperson with whom I usually dealt with.

He explained that the above programme is one with good upside potential and even if there was no profit the principal amount was almost guaranteed at the end of maturity after three years. I invested an amount of Dh100,000 on February 13, 2011 and was given a certificate confirming my subscription.

Nobody from the bank had called me regarding the investment made and to find whether the details were properly explained or not. At the end of each year, I visited the branch to find about the progress of the programme as I was not sent any details of the progress. I was told by the salesperson that the investment was making good progress.

On the maturity date, as I did not receive any details, I visited the branch and was told that for unknown reasons the programme is in a loss and on reminding the salesperson regarding his initial promise of capital guarantee, he replied that the bank had told him that this was capital guaranteed and he did not know the exact reason for the loss.

He also adviced me to extend the maturity so that I could recoup my loss to some extent as the markets were performing well at that time. I also met the manager of the Mamzar branch on the same day; he could also not give me a definite answer to my queries regarding the loss and was adviced to continue the contract to reduce the loss.

I signed another contract to extend the maturity date to March 9, 2014. The salesperson explained that he had sent an email to the concerned department enquiring about the loss incurred and to continue the contract after the maturity. I tried to contact the Takaful department of DIB over the telephone number provided by the salesperson, but nobody responded.

I was really shocked when my account was credited with Dh91,288.86 on March 9 after three years and 24 days; it was Dh8,711.14 lesser than the original amount. Neither the salesperson nor the bank manager at the Mamzar branch could give me an answer about the exact reason for the loss incurred, instead they adviced me to contact the Takaful main office in Oud Metha, Dubai.

I contacted them in May. Initially, the officials at the Takaful office refused to talk to me, and instead asked me to go to the Al Mamzar branch. When I refused to go without meeting the team leader, I was allowed to talk to him.

Though he promised to look into the matter, he could not give me a definite answer for the losses or find a solution for my grievances. I was instead asked to go to another office located in Deira.

I met one of the officials responsible for Takaful scheme who told me that he did not know anything about my investment plan and adviced me to go back to either the Mamzar branch or the Oud Metha office.

I went back to Oud Metha and explained about the way things were going and how difficult it was for me to go from office to office without a clear answer or explanation. The manager agreed to look into the matter and I was asked to submit the relevant papers to one of the officials who promised to contact me. After a few days when I contacted the official, I was told that nothing could be done.

I would like to know from the Takaful division of DIB why they deducted Dh8,711.14 at the end of maturity after three years. Why did the salesperson at the Mamzar branch sell me the product as a capital guaranteed plan? Why are customers not given adequate information as to the progress of the plan and why do the officials claim ignorance of the plan after selling a product and making customers run from pillar to post?

From Mr Mohammad Ashraf



The management of DIB responded: Dubai Islamic Bank (DIB) would like to confirm that our customer service team has been in touch with Mr Ashraf to address this issue. We have contacted the customer and advised him of the signed contract that clearly states the terms and conditions of the product, and explains the profits and losses associated with it. As we have successfully addressed Mr Ashraf’s queries, we now consider the case closed.


(Process initiation: December 1. Response from organisation: December 14. Process completion: January 1.)


Extra charges on mobile bill

I was approached by a marketing representative of etisalat for the sale of an iPhone 5s in the month of August, whereby I signed an application form to buy an iPhone 5s 16GB with 130 national minutes, 130 international minutes and 130MB of data usage at a monthly payment of Dh273 approximately.

Then I had to follow up with the company for at least a month to get an update on the delivery of the mobile and each time I called, I didn’t get a response.

One day, I received a call from them saying that they could only give me an iPhone 5s 64GB or any other Samsung device. I refused the offer since 64GB was at a higher price of Dh333 per month approximately. There manager of the marketing quotient called me and confirmed that all the extra charges would be paid by them and I would not pay anything extra. I agreed to the offer and signed the form.

Finally, I received the device with the plan and a new number and by this date the iPhone 6 was already out in the market and the prices of the iPhone 5s were falling drastically. This is when the major problem started. The monthly charges were not the same as were offered to me initially.

I was charged as follows:

September, 2014: Dh211.53. Rental: Dh50. Total: Dh261.53.

October, 2014: Dh334. Rental: Dh0. Total: Dh335.

I registered a complaint with etisalat for the above charges and refused to pay the extra amount that was charged to me. I followed up twice before payment of the above bills and the reply was that my complaint was under consideration.

I request Gulf News to help resolve this issue, since the monthly payable amount is beyond my capacity and I also don’t want to end up being a defaulter with etisalat.

From Mr Mufzal Akbar



The management of etisalat responded: Kindly note that the customer’s issue was solved. A ‘save offer’ of Dh100 for three months has been applied to the customer’s account. We have contacted the customer, apologised and he accepted to close the case.


Mr Akbar responded: Please note that the issue was duly resolved by etisalat executives.


(Process initiation: December 1. Response from organisation: December 9. Reader confirmation: December 9.)


Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.