Latest news with #FaridAlMulla
Mid East Info
17-06-2025
- Business
- Mid East Info
Emirates Islamic wins top honours at the Euromoney Islamic Finance Awards 2025 - Middle East Business News and Information
Bank wins 'The World's Best Islamic Digital Bank', along with 'The Middle East's Best Islamic Digital Bank', and 'The UAE's Best Islamic Digital Bank' • Receives recognition for 'The Middle East's Best Islamic ESG Deal' and 'The Middle East's Most Innovative Islamic Deal' • Emirates Islamic wins laurels in the UAE for 'The UAE's Islamic Finance Deal of the Year', 'The UAE's Best Islamic ESG Deal' and 'The UAE's Most Innovative Islamic Deal' Dubai, June 2025: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has been honoured with top distinctions at the Euromoney Islamic Finance Awards 2025, a distinguished recognition of the bank's global, regional, and local leadership in Islamic finance offerings. The Euromoney Islamic Finance Awards are given to Islamic financial institutions that have demonstrated outstanding performance, made an impact in their respective markets and contributed to the development of the Islamic banking and finance industry. Emirates Islamic was awarded the prestigious title of 'The World's Best Islamic Digital Bank', 'The Middle East's Best Islamic Digital Bank', and 'The UAE's Best Islamic Digital Bank'. The bank's digital-first approach has resulted in the award-winning EI + Mobile Banking App becoming an indispensable tool, with more than 500,000 customers already registered and 90% of total eligible customers now banking through the online and mobile versions of the app, surpassing 18 million total transactions, and averaging at over 4 million logins per month. Enhancing the digital experience has translated into a 30% increase in financial transactions setting a new industry standard for ease and efficiency. One of the most notable achievements of the EI + App has been the expansion of services from 50 during launch to 160 currently, including Shariah-compliant investment options. In addition, Emirates Islamic won 'The Middle East's Best Islamic ESG Deal' in line with its vision to be the pioneering Shariah-compliant bank for customers, people and communities, through its USD 750 million senior unsecured Sukuk. A milestone issuance for the Islamic Finance Industry in the UAE and the region, the Sukuk garnered substantial interest from global investors, closing with an oversubscribed orderbook of USD 2.1 billion – 2.8 times the initial offering. Emirates Islamic's Corporate & Institutional Banking has won four accolades for its Shariah-compliant solutions and structures implemented in various transactions. The bank won the regional award of 'The Middle East's Most Innovative Islamic Deal' as well as UAE awards including, 'The UAE's Islamic Finance Deal of the Year', 'The UAE's Best Islamic ESG Deal' and 'The UAE's Most Innovative Islamic Deal'. Farid AlMulla, Chief Executive Officer at Emirates Islamic, commented: 'We are delighted to win several awards at the Euromoney Islamic Finance Awards. Emirates Islamic is dedicated to pioneering Shariah-compliant products and services to meet the growing demand for ethical banking solutions and these accolades underscore our customer-centric efforts and initiatives. As the UAE continues to expand and diversify its national economy according to the UAE Strategy for Islamic Finance and Halal Industry by developing the Islamic financial sector and leading global Islamic finance activities, Emirates Islamic is committed to providing products and services that reinforces this ambition. We will continue to meet our customers' needs and further cement our position as an award-winning market leader.' Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic, said: 'As a home-grown Islamic bank, our Shariah-compliant financing offerings, while providing immense client satisfaction, demonstrate a promise to innovation and sustainability. Therefore, our efforts have contributed to raising the profile of Islamic finance in the region and strengthening our success in providing a comprehensive Islamic banking proposition to all our customers, backed by seamless, customer-centric banking experiences that are both rewarding and memorable.' About Emirates Islamic: Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is a leading Islamic financial institution in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE. Emirates Islamic offers a comprehensive range of Shariah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 40 branches and 229 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp. Emirates Islamic has consistently received local and international awards, in recognition of its strong record of performance and innovation in banking. Emirates Islamic was recognized as 'Best Overall Islamic Bank' and 'Most Innovative Islamic Bank' at the Islamic Finance News Awards 2024. The Bank was also named the 'Most Innovative Islamic Bank' at the prestigious Euromoney Islamic Finance Awards 2024. As part of its commitment to the UAE community, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions.
Fintech News ME
11-06-2025
- Business
- Fintech News ME
Switzerland's Leonteq Partners with Emirates Islamic on Shari'a-Compliant Structured Products
Leonteq, a Zurich-based fintech company, announced today the formation of a partnership with Emirates Islamic, a financial institution in the UAE, to manufacture and distribute Shari'a-compliant structured products. The collaboration builds on Leonteq's strategic move into the Gulf region. In 2022, the firm introduced a Shari'a-compliant trust certificate issuance programme through IBDAA Certificate Issuer (IBDAA), a dedicated Islamic issuance vehicle. Amanie Advisors, a recognised Shari'a advisory firm, has been engaged by Leonteq to provide guidance on the Shari'a aspects of the programme and subsequent initiatives involving IBDAA. Under this partnership, Emirates Islamic will co-develop certain trust certificates issued by IBDAA and offer these products through its distribution network. Leonteq will support the initiative by providing a full range of services, including issuance arrangements, Shari'a-compliant hedging, and lifecycle management. This collaboration marks a notable development in the Islamic structured product space, bringing together Leonteq's capabilities in investment solutions, structuring, and technology with Emirates Islamic's market presence, credit standing (rated A+ by Fitch), and reach in the UAE wealth management sector. Clients of Emirates Islamic will gain access to investment solutions that were previously limited in availability or scale. These products will be issued via IBDAA, which is among the first Islamic issuance entities able to offer a broad range of payoff structures across various asset classes, supported by automation and flexible investment thresholds. Christian Spieler, CEO of Leonteq, commented: 'We are proud to partner with Emirates Islamic, a top tier institution in the Middle East. This collaboration will allow clients of Emirates Islamic to benefit from Leonteq's longstanding expertise in white-labelling solutions and marks a milestone for Leonteq's growth ambitions in the Middle East.' Farid AlMulla, CEO of Emirates Islamic, said: 'We have always endeavoured to offer Islamic solutions that make a difference in the lives of our customers and beyond. This new partnership will enable our clients, in particular, to benefit from an even bigger product universe that further enhances their investment choices and access to global markets.' Emirates Islamic, a member of the Emirates NBD Group, was established in 2004. It offers a wide range of Shari'a-compliant retail, business, and corporate banking services through a network of 40 branches across the UAE.
Gulf Today
14-05-2025
- Business
- Gulf Today
Sharjah to enhance efficiency of realty, financing procedures
The Sharjah Real Estate Registration Department (Sharjah RERD) signed a memorandum of cooperation with Emirates Islamic bank (EIB) to activate a direct electronic link between the two parties. This step is part of the department's strategy to digitise its services and enhance the efficiency of real estate registration and financing procedures, which is in line with the Sharjah government's digital transformation efforts and the provision of smart interconnected services. The memorandum was signed by Abdul Aziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, and Farid Al Mulla, Chief Executive Officer of Emirates Islamic, in the presence of several department directors and officials from both parties. This agreement represents an advanced step towards facilitating real estate procedures and transactions related to banking services. Additionally, it aims to provide mortgage services and carry out all required actions, including, but not limited to, registering, amending, canceling, and releasing mortgage contracts. Moreover, it allows Emirates Islamic to use the department's electronic system, enabling it to conduct inquiries, verifications, and compliance transactions electronically, in accordance with its roles and the applicable legislative controls. The electronic linking will be launched using the latest encryption protocols and the highest standards of data protection, ensuring the confidentiality and integrity of exchanged information without the need for physical presence. This will contribute to reducing the time and effort for customers and enhancing the accuracy and quality of operations. In this context, Abdul Aziz Al-Shamsi said: 'This partnership comes within the framework of our ongoing efforts to develop the real estate business environment in the emirate, and achieve a high level of digital integration between government agencies and financial institutions. It will support the quality of life and enhance business in Sharjah.' 'Enabling banks to have direct access to the department's electronic system for mortgage transactions and digital services reflects our commitment to providing services based on transparency, accuracy, and speed of completion.' Farid Al Mulla, Chief Executive Officer of Emirates Islamic, also said: 'Emirates Islamic is proud to partner with the Sharjah Real Estate Registration Department in this important initiative to streamline mortgage services. This collaboration underscores our commitment to remain at the forefront of driving digital innovation to enhance customer experiences.' 'Aligning with our vision to be the most innovative Shariah-compliant bank for our customers, people, and communities, Emirates Islamic will continue to secure strategic partnerships, to deliver innovative products and enhance customer experience.' Overall, this agreement is an extension of the department's efforts to enhance the digital infrastructure of its systems and enable its partners to benefit from its services remotely, which will eventually support Sharjah's vision of developing smart government work and stimulating economic and real estate growth through strategic partnerships with the private sector.
Sharjah 24
14-05-2025
- Business
- Sharjah 24
SRERD, ‘Emirates Islamic' activate electronic mortgage services
The memorandum was signed by Abdul Aziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, and His Excellency Farid Al Mulla, Chief Executive Officer of Emirates Islamic, in the presence of several department directors and officials from both parties. This agreement represents an advanced step towards facilitating real estate procedures and transactions related to banking services. Additionally, it aims to provide mortgage services and carry out all required actions, including, but not limited to, registering, amending, canceling, and releasing mortgage contracts. Moreover, it allows Emirates Islamic to use the department's electronic system, enabling it to conduct inquiries, verifications, and compliance transactions electronically, in accordance with its roles and the applicable legislative controls. The electronic linking will be launched using the latest encryption protocols and the highest standards of data protection, ensuring the confidentiality and integrity of exchanged information without the need for physical presence. This will contribute to reducing the time and effort for customers and enhancing the accuracy and quality of operations. In this context, Abdul Aziz Al-Shamsi said: "This partnership comes within the framework of our ongoing efforts to develop the real estate business environment in the emirate, and achieve a high level of digital integration between government agencies and financial institutions. It will support the quality of life and enhance business in Sharjah. Enabling banks to have direct access to the department's electronic system for mortgage transactions and digital services reflects our commitment to providing services based on transparency, accuracy, and speed of completion." Farid Al Mulla, Chief Executive Officer of Emirates Islamic, also said: "Emirates Islamic is proud to partner with the Sharjah Real Estate Registration Department in this important initiative to streamline mortgage services. This collaboration underscores our commitment to remain at the forefront of driving digital innovation to enhance customer experiences. Aligning with our vision to be the most innovative Shariah-compliant bank for our customers, people, and communities, Emirates Islamic will continue to secure strategic partnerships, to deliver innovative products and enhance customer experience." Overall, this agreement is an extension of the department's efforts to enhance the digital infrastructure of its systems and enable its partners to benefit from its services remotely, which will eventually support Sharjah's vision of developing smart government work and stimulating economic and real estate growth through strategic partnerships with the private sector.
Hi Dubai
09-05-2025
- Business
- Hi Dubai
Emirates Islamic Unveils Exclusive Business Banking Diamond Account for High-Value SME Clients
Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced the launch of its new Business Banking Diamond account. The account is a premium and bespoke offering crafted to deliver a superlative banking experience for the sophisticated financial needs of high-value Small and Medium Enterprises (SMEs) and established businesses. The launch was announced at an exclusive event held recently at the Armani Hotel – Burj Khalifa in Dubai. As a bank actively serving more than 40,000 SMEs - with one in 15 SMEs banking with Emirates Islamic's business banking segment - the new account goes beyond traditional banking to deliver a seamless blend of financial mastery, privileged access and lifestyle elevation. This new account reflects the bank's commitment to excellence and empowering SMEs while contributing to the UAE's thriving business ecosystem. The Business Banking Diamond account offers a comprehensive suite of services and benefits designed to provide unparalleled support and convenience to growing businesses. The new account includes priority access across all Bank channels, a unique metal Visa Signature Debit Card with high withdrawal and POS limits, airport lounge access, car rental discounts globally and much more. Business Banking Diamond customers can also enjoy exclusive banking support with a dedicated Relationship Manager and a Trade & FX advisor as well as preferential pricing on the bank's products and services. Farid AlMulla, Chief Executive Officer of Emirates Islamic, said: "We are delighted to launch the new Business Banking Diamond account, a value proposition that reflects our unwavering commitment to providing innovative and tailored solutions to our valued business clients. We understand the unique challenges faced by high-growth SMEs, and this account is specifically designed to empower them with the tools and support they need to achieve their ambitions." Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic, said: "With the launch of the Business Banking Diamond account, Emirates Islamic is setting a new standard of bespoke business banking services in the UAE. Designed to meet the evolving needs of high-growth enterprises, this proposition combines personalised relationship management with a suite of exclusive benefits - assisting our clients to focus on scaling their businesses with confidence.' Mohamed Al Hadi, Head of Retail Banking and Wealth Management at Emirates Islamic, added: "The Business Banking Diamond account demonstrates our dedication to providing tailored solutions for businesses. Our clients expect more than just traditional banking. They seek a trusted partner who understands their ambitions and lifestyle. The Business Banking Diamond account reflects our vision to deliver relationship driven experiences to navigate the complexities of the modern financial landscape. This launch is testimony to our commitment as a strategic enabler in the SME ecosystem, a vital engine of the UAE economy." Priority and Dedicated Support: • Priority treatment at branches, call center and Business Banking centers • Dedicated Relationship Manager, Trade & FX advisor & Service representative to assist with daily banking needs • Dedicated Call Center • Free Chequebooks • Free WPS Salary Transfer • Up to 20 transactions free in a month at the teller • Cash Management Suite Lifestyle Benefits: • Higher withdrawal & POS limits • Concierge services • Lounge Access • Hospitality Discounts • Exclusive Invitations & experiences • Airport Meet & Greet • Car Rental discounts • E-Sim data bundles Business Assistance and Protection: • Global Assistance • Multi-Trip Insurance • Extended Warranty • Emergency Medical & Travel Assistance News Source: Burson
