Emirates Islamic Named ‘Best Overall Islamic Bank’ and ‘Most Innovative Islamic Bank’ at Islamic Finance News Awards 2024
Emirates Islamic, a leading Islamic financial institution in the UAE, has been honored with two prestigious awards at the Islamic Finance News Awards 2024, recognizing the bank's market-leading offerings and innovative banking solutions.
The Islamic Finance News Awards celebrate excellence in the global Islamic financial industry and are highly regarded by Islamic banks worldwide.
Emirates Islamic received the title of ‘Best Overall Islamic Bank’ for its outstanding performance across various banking segments and its significant contribution to the growth of Islamic banking solutions in the UAE. Celebrating its 20-year anniversary, the bank has achieved significant milestones in Emiratisation, diversity and inclusion, and sustainability. The bank is known for its innovative products and services, such as the flagship Kunooz Savings Account, which incentivizes customers for their savings practices. Emirates Islamic is also a key player in the UAE credit card market, offering a diverse range of products including Etihad Guest Credit Cards and Skywards Credit Cards.
Earlier this year, Emirates Islamic concluded its debut USD 500 million syndicated Financing Facility, a landmark three-year term financing facility, marking a first for Shariah-compliant financial institutions. Additionally, the bank signed an ESG agreement with the Middle East’s sustainability pioneer, BEEAH Group, for an ESG-linked financing facility, demonstrating its commitment to sustainability and offering innovative Shariah-compliant financing solutions.
The bank was also awarded the title of ‘Most Innovative Islamic Bank’ in recognition of its dedication to providing digital, customer-centric banking solutions. As a digital leader in the Islamic banking sector, Emirates Islamic continues its commitment to banking innovation in the UAE. The bank was the first in the UAE to offer all three major digital wallets – Apple Pay, Google Pay, and Samsung Wallet – and the first Islamic bank globally to introduce WhatsApp Banking. Recently, it launched a Shariah-compliant digital wealth and equity trading platform on its EI + mobile banking App, making it the first Islamic bank in the UAE to offer this feature.
Fuad Mohamed, Chief Operating Officer at Emirates Islamic, commented on the recognition: “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 our 20-year milestone, 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.”
