Emirates Islamic launches UAE’s first Shari’ah-compliant digital precious metals investment solution

Business

Emirates Islamic launches UAE’s first Shari’ah-compliant digital precious metals investment solution

Emirates Islamic has announced the launch of the UAE’s first Shari’ah-compliant digital investment solution in gold and silver, marking a significant milestone in the country’s Islamic banking and wealth management landscape.

The new offering, integrated into the bank’s EI+ Mobile Banking App, enables customers to buy and sell certified physical gold and silver bars through a secure digital platform. The solution is designed to provide investors with a convenient way to diversify portfolios and preserve wealth, leveraging precious metals as a traditional hedge against inflation.

Accessible via the app’s dedicated ‘Wealth’ tab, the service allows users to manage their investments seamlessly from their smartphones. Customers can begin investing with a low minimum amount and benefit from flexible redemption options, including partial or full cash withdrawals or physical delivery of their holdings. The platform also allows investors to sell their assets at any time, regardless of market conditions.

To ensure quality and security, gold bars offered through the platform meet London Bullion Market Association (LBMA) and Dubai Good Delivery (DGD) standards, featuring trusted brands such as Emirates NBD, PAMP, and Valcambi. Silver bars comply with UAE Good Delivery (UAEGD) standards and are sourced from reputable providers, with all assets securely stored in high-security vaults.

Mohammad Kamran Wajid, Deputy CEO of Emirates Islamic, said the launch reflects the bank’s focus on digital innovation in Shari’ah-compliant finance. “We are proud to introduce the UAE’s first digital investment solution in gold and silver within an Islamic banking framework. This reinforces our commitment to delivering accessible, transparent, and sophisticated wealth management solutions,” he said.

Mohamed Al Hadi, Head of Retail Banking and Wealth Management, noted that the offering aligns with the bank’s strategy to empower retail customers and deepen client relationships through technology-driven services.

Ebrahim Qayed, Head of Treasury and Markets, highlighted the role of precious metals in preserving value, stating that the new platform provides individuals with a flexible and reliable way to manage and grow their wealth in line with evolving financial needs.

The launch underscores Emirates Islamic’s continued efforts to expand its digital banking capabilities while adhering to Shari’ah principles, positioning the bank at the forefront of innovation in the UAE’s Islamic finance sector.