Latest news with #Islamicbanking
Zawya
a day ago
- Business
- Zawya
Egypt: Faisal Islamic Bank's standalone profits drop 78.9% YoY in H1 2025
Arab Finance: Faisal Islamic Bank's standalone net profits after tax fell 78.9% year on year (YoY) in the first half (H1) of 2025 to EGP 1.382 billion, compared to EGP 6.552 billion, according to the bank's financial indicators released on July 17th. Standalone revenues also plunged 19.2% YoY to EGP 13.197 billion from EGP 16.341 billion in H1 2024. Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services per Islamic Sharia principles through its head office and 27 branches across the country. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Finextra
09-07-2025
- Business
- Finextra
Faisal Islamic Bank selects Intellect eMach platform for digital transformation
The Faisal Islamic Bank eMACH implementation represents a daring development in Egypt's digital financial revolution. 0 The bank wants to modernise customer experiences, optimise operations, and propel the next-level Faisal Bank AI transformation across its retail banking services by implementing the cutting-edge eMACH digital engagement platform. As Egypt's first Islamic commercial bank and a leader in Islamic banking, FIBE continues to pioneer innovation in Shariah-compliant banking services across both retail and corporate sectors. The deployment of DEP signals a bold shift from legacy infrastructure to a unified, customer-first digital banking experience rooted in FIB's vision: to be the best bank in providing Islamic services and products to our customers and correspondents, while achieving sustainable growth and reinforcing the Bank's position regionally and internationally. DEP is built on a composable architecture consisting of Events, Microservices, API, Cloud, Headless architecture and embedded AI. The platform creates business impact by enabling seamless, contextual engagement across the entire customer lifecycle from acquisition and engagement to retention, through both self-service and assisted channels. Recognising the need for a future-ready platform, FIBE partnered with Intellect to accelerate its digital ambitions and deliver: ● Omnichannel experience across mobile & internet banking with the ability to pause & resume tasks between devices ● Completely digital processes, including onboarding in 3 minutes, thereby reducing the overall carbon footprint for both the bank and customers while promoting sustainable practices. ● Enhanced engagement via chatbots and social banking ● Rich self-service capabilities for inquiries, transfers, bill payments, card services, and statements ● Arabic-first, human-centered UX, ensuring inclusivity and adoption across all segments ● Agile rollout & modular architecture, enabling future-ready expansion across offerings like lifestyle services ● Operational efficiency through digitization of high-volume interactions and backend workflows While the initial focus is on the consumer segment, the platform is designed to scale across SME and corporate segments, enabling end-to-end digitization of FIB's full customer lifecycle from individuals to institutions. Abd Elhamid Mohamed Abu Musa, Faisal Islamic Bank of Egypt Governor said, 'At Faisal Islamic Bank, we aim to serve with integrity, innovation, and a customer-first mindset. Partnering with Intellect has empowered us to deliver a truly modern, Shariah-compliant digital experience. This transformation strengthens our commitment to our customers, aligns with our sustainability goals, and reaffirms our position as the leader in Islamic banking in Egypt.' Rajesh Saxena, CEO, Intellect Consumer Banking, Intellect Design Arena said, 'Digital transformation today transcends mere modernisation. It demands a visionary leap to integrate cultural nuance, customer empathy, and technological agility into every interaction. Partnering with Faisal Islamic Bank, we've created an experience that's truly customer-centric. With DEP, FIBE is poised to outpace legacy constraints, deliver personalized, real-time engagement, and set a new standard for Islamic retail banking. This is a partnership built on shared vision and long-term impact, exemplifying how strategic vision, agility, and technology convergence can transform banking from the ground up.' By implementating the Faisal Islamic Bank eMACH platform, the organisation reaffirms its dedication to AI-driven innovation, endorsing a more comprehensive Faisal Bank AI transformation vision that reimagines digital interaction in the area.
Zawya
12-06-2025
- Business
- Zawya
Ruya unveils AI-generated brand film: "You've Got Better Things to Do"
Ajman, UAE – ruya, the UAE's first digital Islamic community bank, has launched a bold new film titled "You've Got Better Things to Do", a fully AI-generated campaign that speaks directly to the entrepreneurs, startups, freelancers, Camelicorns and SME owners who are fuelling the country's growth and who prefer simple, modern solutions over the complexities of traditional banking. The message is simple: your time is precious, and ruya helps you spend it where it matters most - on your business, not your bank. The film showcases everyday moments of business owners chasing their dreams, supported by ruya's seamless, mobile-first platform that eliminates banking hassles with instant account opening, no hidden fees, and fast, ethical financial services. In a deliberate creative choice, the film was developed entirely with generative AI, making ruya one of the first banks in the region to launch a campaign built with next-generation technology. The approach reinforces the campaign's core message: 'You've got better things to do… than make an ad the old-fashioned way'. By integrating AI into its creative process, ruya aligns with the UAE's national vision to lead in artificial intelligence and digital innovation. The campaign showcases not just innovation for its own sake, but purposeful use of technology to communicate more meaningfully with today's business community. 'This film represents an innovative step forward for the Islamic banking sector,' said Christoph Koster, CEO of ruya. "As a digital-first Islamic bank, we believe technology should simplify life, not complicate it. Embracing AI in our marketing is a natural extension of our forward-thinking ethos, as it reflects how we operate as a brand and how we believe banking should evolve: simple, smart, and aligned with the pace of today's world." The film is a direct reflection of ruya's values, blending modern convenience and guided by ethical Islamic principles that promote transparency, fairness, and community focus. The campaign is now live across ruya's digital platforms and can be viewed on the official YouTube channel at: ruya - You've got better things to do About ruya (رويا): Headquartered in Ajman and launched in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic banking, designed for individuals and businesses alike. Licensed by the Central Bank of the UAE as a Specialised Bank, ruya delivers a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruya is deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door branches that serve as hubs of education and support. ruya is also proud to be Great Place to Work® Certified, a testament to its inclusive culture and employee-first values. Recognition: – Best Islamic Digital Bank provider, UAE, 2025 – MEA Finance Banking Technology Summit – Best Islamic Bank for Digital CX, UAE, 2025 – The Digital Banker, Digital CX Awards – Best Digital Customer Experience for Account Opening and Customer Onboarding – Digital Bank, UAE, 2025 – The Digital Banker, Digital CX Awards – Best CSR Initiative, UAE, 2025 – MEED, MENA Banking Excellence Awards – Best Islamic Digital Bank, UAE, 2025 – 2nd Global Islamic Fintech Awards For media inquiries: pr@ Website: Twitter/X: myruyabank Instagram: myruyabank LinkedIn: ruya Facebook: myruyabank TikTok: @myruyabank YouTube: @myruyabank
Zawya
10-06-2025
- Business
- Zawya
Ruya unveils AI-generated brand film: You've got better things to do
Ajman, UAE – ruya, the UAE's first digital Islamic community bank, has launched a bold new film titled "You've Got Better Things to Do", a fully AI-generated campaign that speaks directly to the entrepreneurs, startups, freelancers, Camelicorns and SME owners who are fuelling the country's growth and who prefer simple, modern solutions over the complexities of traditional banking. The message is simple: your time is precious, and ruya helps you spend it where it matters most - on your business, not your bank. The film showcases everyday moments of business owners chasing their dreams, supported by ruya's seamless, mobile-first platform that eliminates banking hassles with instant account opening, no hidden fees, and fast, ethical financial services. In a deliberate creative choice, the film was developed entirely with generative AI, making ruya one of the first banks in the region to launch a campaign built with next-generation technology. The approach reinforces the campaign's core message: 'You've got better things to do… than make an ad the old-fashioned way'. By integrating AI into its creative process, ruya aligns with the UAE's national vision to lead in artificial intelligence and digital innovation. The campaign showcases not just innovation for its own sake, but purposeful use of technology to communicate more meaningfully with today's business community. 'This film represents an innovative step forward for the Islamic banking sector,' said Christoph Koster, CEO of ruya. "As a digital-first Islamic bank, we believe technology should simplify life, not complicate it. Embracing AI in our marketing is a natural extension of our forward-thinking ethos, as it reflects how we operate as a brand and how we believe banking should evolve: simple, smart, and aligned with the pace of today's world." The film is a direct reflection of ruya's values, blending modern convenience and guided by ethical Islamic principles that promote transparency, fairness, and community focus. The campaign is now live across ruya's digital platforms and can be viewed on the official YouTube channel at: ruya - You've got better things to do
