News DeskDubai, UAE – Emirates Islamic, a prominent Islamic financial institution in the UAE, has been recognised with two prestigious accolades at the Islamic Finance News Awards 2024. The bank was celebrated for its market-leading offerings and innovative banking solutions, further cementing its position in the global Islamic financial industry.
The Islamic Finance News Awards are highly esteemed in the Islamic banking sector, recognising excellence across the industry worldwide. Emirates Islamic earned the title of ‘Best Overall Islamic Bank’ for its exceptional performance across various banking segments and its efforts to promote Islamic banking solutions in the UAE. Marking its 20th anniversary, the bank has made remarkable advancements over the past two decades in areas such as Emiratisation, diversity and inclusion, and sustainability. Emirates Islamic has been at the forefront of innovation, exemplified by its flagship Kunooz Savings Account, which rewards customers for their saving practices. Additionally, the bank holds a significant presence in the UAE credit card market with a range of products, including the Etihad Guest Credit Cards and Skywards Credit Cards.
Earlier this year, Emirates Islamic successfully concluded its inaugural USD 500 million syndicated Financing Facility. This landmark three-year term financing facility is the first of its kind raised by a Shariah-compliant financial institution. Moreover, the bank signed a landmark ESG agreement with BEEAH Group, the Middle East’s sustainability pioneer, for an ESG-linked financing facility. This agreement underscores the bank’s long-term commitment to sustainability and its dedication to offering customers alternative financing through innovative Shariah-compliant solutions.
In addition to being named the ‘Best Overall Islamic Bank,’ Emirates Islamic also received the title of ‘Most Innovative Islamic Bank’ in recognition of its commitment to providing digital, customer-centric banking solutions. As a digital leader in the Islamic banking sector, the bank has pioneered several digital initiatives. It was the first Islamic bank in the UAE to offer Apple Pay, Google Pay, and Samsung Wallet. Additionally, Emirates Islamic became the first Islamic bank globally to introduce WhatsApp Banking for its customers. Recently, the bank launched a Shariah-compliant digital wealth and equity trading platform on its EI+ mobile banking app, becoming the first Islamic bank in the UAE to offer this feature.
Fuad Mohamed, Chief Operating Officer at Emirates Islamic, commented on the awards: “Emirates Islamic has consistently led innovation in the Islamic financial services sector, and these awards are a testament to the success of our customer-centric digital transformation efforts. As we celebrate a significant milestone this year, marking 20 years of progress, we remain dedicated to providing products and services that meet our customers’ needs and contribute to Dubai’s vision of becoming the global capital of the Islamic Economy.”
These accolades highlight Emirates Islamic’s unwavering dedication to innovation, customer satisfaction, and sustainable growth, solidifying its status as a leader in the Islamic financial industry.
