Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, won major recognition with two major awards at the International Finance Awards 2023.

Recognising the bank’s significant contribution to product and service innovation in the UAE's flourishing banking sector and its commitment to providing digital, customer-centric banking experiences to customers, the bank was named ‘Most Innovative Islamic Bank in the UAE’. Emirates Islamic remains at the forefront of driving digital innovation in the Islamic banking sector, in line with its long-term commitment to bringing banking innovation to UAE customers. Following on from being the first Islamic bank in the UAE to offer all three major wallets – Apple Pay, Google Pay and Samsung Pay – Emirates Islamic became the first Islamic bank in the world to introduce WhatsApp Banking for its customers.

The bank was also named ‘Best Islamic SME Bank in the UAE’ for its innovative and business-friendly propositions for small and medium enterprises (SMEs) and its status as a preferred bank for entrepreneurs seeking Shariah-compliant products and services for their businesses. SMEs are a key driver of Emirates Islamic’s growth strategy, and the bank continues to offer a wide range of business banking products and services tailored to meet the unique needs of companies in this critical sector. In line with the UAE’s strategy to support small and medium-sized businesses owned by citizens through special support programmes and initiatives, the bank also launched the new Emarati Absher Business Account, designed exclusively to provide a comprehensive suite of premium banking solutions for Emarati start-ups in the UAE.

Emirates Islamic’s Business Banking segment has seen record growth in 2023 demonstrating the strength of the bank’s value proposition.

Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic said, “We are proud to receive recognition at the International Finance Awards for our innovative propositions and commitment to supporting the SME sector. In line with our vision to be the most innovative Shariah-compliant bank for our customers, people, and communities, Emirates Islamic constantly strives to enhance its offerings to provide the most innovative and digitally forward financial solutions to customers.”

He added, “Further, as a home-grown Islamic financial institution, supporting the UAE's SME sector is a top priority for Emirates Islamic and we are committed to furthering the growth of the segment in the UAE, as we strive to enhance the overall SME business ecosystem.”

International Finance is a premium business and finance magazine published by UK's International Finance Publications Limited. The International Finance Awards annually recognise top performing corporates, governmental organisations, and transformational business and government leaders for their performance excellence.

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 Shari’ah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 42 branches and 211 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. In 2023, Emirates Islamic was awarded the ‘Most Innovative Sukuk’ award at The Banker Islamic Banking Awards for its AED 1 billion dirham-denominated sukuk, the first such dirham sukuk issuance by a UAE bank. The bank also won ‘Best Islamic Real Estate Deal’ at the prestigious Euromoney Islamic Finance Awards 2023 for facilitating a real estate financing deal for a leading Dubai-based conglomerate.

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.

For further information please visit www.emiratesislamic.ae
Or please contact:
Amina Al Zarooni
Media Relations Manager, Emirates Islamic
Email: AminaAlZarooni@emiratesislamic.ae
Akshata Datar
asda’a bcw; Dubai, UAE
Email: Akshata.Datar@bcw-global.com