Emirates Islamic Announces Increased Profit rates on Investment Term Deposits for Q2

Emirates Islamic, among the leading Islamic financial institutions in the UAE, announced enhanced earnings rates of approximately 2.35% on its Financial investment Term Down payments. After a solid financial quarter, the bank aims to share its profits with its customers.

Emirates Islamic's net profit for the very first fifty percent of 2017 stood at AED 387 million compared with AED 137 million for the same duration last year, showing this success in its investment deposits. 1 year deposits offered 1.95% p.a. in the 2nd quarter of 2017, up by 50 bps because the end of 2016, while two-year deposits offered 2.35% p.a. The Financial investment Term Deposit is an unique profit-bearing product in which profits are created and distributed from the common Mudaraba pool, which is a joint financial investment swimming pool between depositors and shareholders.

Jamal Bin Ghalaita, Chief Executive Officer at Emirates Islamic, commented "Emirates Islamic continuouslies move forward on its path of lucrative growth and after introducing favorable outcomes for the initial fifty percent of 2017, we would certainly once more like to share the success with our customers. The Financial investment Term Deposit Account is a superior monetary preparation device that aids our customers attain their long-term objectives. Committed to raising the value of this item for our customers and investors, Emirates Islamic is determined to proceed this performance right into the rest of the year.

Available for individuals, including minors, in addition to single proprietorships, collaborations and Joint Stock and Limited Responsibility organisations, Emirates Islamic Financial investment Term Down payments are available in USD and AED moneys. The easy-to-manage down payment could be opened up with a minimum requirement of AED 10,000 only and is offered for numerous flexible periods. The news from the bank today is aligned with its recurring dedication to providing customers with an unparalleled Islamic banking proposition in the UAE.

In the very first fifty percent of this year, Emirates Islamic revealed the 'Cashback Plus Visa Signature Credit Card which rewards customers with as much as 10% money back on domestic and international house spends, and the Booster Wakala Deposit, using greater predicted revenue prices up to 2.57% per year.