Overview
This guide provides step-by-step instructions for submitting a Settlement & Mortgage Release Request through the iBusiness Web Portal.
This service allows customers to request the settlement of a loan or financing facility and initiate the mortgage release process where applicable. The request supports both Full Settlement and Partial Settlement options.
Step 1: Access the Service Request
- Log in to iBusiness.
- Navigate to:
- Digital Service Hub
- Service Requests
- Click Initiate a Request.
Step 2: Select the Service Type
- Select Product Services.
- Choose Settlement & Mortgage Release.
This will open the Settlement & Mortgage Release request form.
Step 3: Complete the Request Details
Enter all mandatory information in the request form.
Customer Information
| Field | Description |
|---|---|
| RIM Number | Select the applicable Relationship Information Management (RIM) number. |
| Charge Account | Select the account from which applicable service charges will be deducted. |
Settlement Details
Under Type of Settlement, select either:
- Full Settlement
- Partial Settlement
Select the Current Account Number associated with the settlement request.
Partial Settlement
If Partial Settlement is selected:
- Enter the settlement amount.
- Verify the amount before proceeding to the next step.
Bulk Loan Settlement
Specify whether the request is a bulk settlement:
- Yes: Multiple facilities will be included in the request.
- No: A maximum of 10 rows/facilities can be entered manually.
Bulk Upload Process
Download the available:
- Sample File
- PDF User Guide
- Complete the Excel template with the required facility details.
- Upload the completed file.
- Review any validation messages before proceeding.
| Field | Meaning |
|---|---|
| CBD Ref. RIM # | Internal reference number used by CBD for the customer/application. |
| Trade License # | Business trade licence number of the company applying for finance. |
| Registration Company Name | Official name of the company registered with authorities. |
| Dealer Name | Name of the vehicle dealer or showroom selling the vehicle. |
| Proforma Invoice # | Reference number of the quotation/proforma invoice issued by the dealer. |
| Proforma Invoice Date | Date the quotation/proforma invoice was issued. |
| Make | Vehicle brand (e.g., Toyota, Nissan, Mercedes). |
| Model | Specific vehicle model (e.g., Corolla, Patrol, C-Class). |
| Model Year | Manufacturing/model year of the vehicle. |
| Chassis No. | Unique Vehicle Identification Number (VIN). |
| Engine No. | Unique engine serial number. |
| Registration Emirate | Emirate where the vehicle will be registered (Dubai, Abu Dhabi, Sharjah, etc.). |
| Traffic File Number | Vehicle owner's traffic department account/file number. |
| Color of the Vehicle | Vehicle colour. |
| Type of Asset | Type of vehicle/asset being financed (car, truck, bus, equipment, etc.). |
| Unit Price (incl. VAT 5%) | Total vehicle price including 5% VAT. |
| Down Payment | Amount paid upfront by the customer. |
| Loan Amount | Amount financed by the bank. |
| Validity of LPO | How long the LPO (Local Purchase Order) remains valid. |
| Tenure (months) | Length of the loan in months. |
| First Instalment Date | Date the first loan payment is due. |
| Interest Start Date | Date from which the bank starts calculating profit/interest. |
| Recovery Account Number | Bank account from which instalments will be collected. |
| Repayment Frequency | How often payments are made (monthly, quarterly, etc.). |
Supporting Documents
Upload all required supporting documents.
Step 4: Review and Submit
- Review all request information carefully.
- Verify:
- RIM Number
- Charge Account
- Settlement Type
- Account Details
- Uploaded Files
- Supporting Documents
- If required, click Terms and Conditions to review the applicable service terms.
- Accept the Terms and Conditions.
- Click Submit.
Important: Ensure all information is correct before submitting the request to avoid processing delays.
Step 5: Authenticate the Request
Complete authentication using one of the following methods:
CBD iBusiness Mobile App
- Approve the request through the CBD iBusiness Mobile App.
- Complete biometric authentication.
Google Authenticator
- Open the Google Authenticator application.
- Enter the generated One-Time Password (OTP).
Step 6: Confirmation
After successful submission:
- A confirmation screen will be displayed.
- A unique reference number will be generated.
- The reference number can be used to track the request status.
Support Notes / Best Practices
- Ensure the correct RIM Number and Current Account Number are selected.
- Select the appropriate settlement type (Full or Partial) before submission.
- For bulk settlements, always use the latest Sample File provided within iBusiness.
- Review all uploaded documents before proceeding.
- Read the accompanying PDF guide when preparing a bulk settlement file.
- Retain the generated reference number for future tracking and support enquiries.