• Savings product with high expected profit rates
  • Tenures range from one year to five years
  • Offer available until July 2017

Dubai, 31 May, 2017

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today launched Booster Wakala Deposit, offering higher expected profit rates up to 2.57% per annum. With this product, Emirates Islamic aims to provide its affluent customers with a Sharia compliant market leading Wakala deposit proposition that strengthens their savings portfolio.

Customers can open their Booster Wakala Deposit with a minimum balance of AED 100,000 and can expect profit rates annually ranging from 2.00% for one year; up to  2.57% for five years.

Commenting on the launch, Wasim Saifi, Deputy CEO - Consumer Banking and Wealth Management at Emirates Islamic, said: Our Booster Wakala Deposit is a highly competitive and excellent savings proposition. With an expected profit rate, our customers can plan their future needs in a safe and sound manner. We expect this campaign to be well-received by customers and encourage them to make the most of this opportunity. Going ahead, Emirates Islamic will continue launching solutions that offer market leading returns on investments and savings to our customers.

The Bank offers Booster Wakala Deposit where Bank will act as the Wakeel for the investor (the Muwakeel) and manage the investment for a fixed tenure and expected profit rate.

Earlier this month, Emirates Islamic announced increased profit rates on its Investment Term Deposits for the first quarter of 2017, reflecting the banks strong financial performance in the early part of this year and its commitment to sharing this success with its customers. The bank has also received significant recognition for its mass segment savings products, recently winning The Banker Middle Easts Best Savings Account award for its flagship Emirates Islamic Kunooz Savings Account, which encourages customers to save and rewards them significantly with monthly grand and daily prizes worth over AED 12 million a year.

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About Emirates Islamic:
Established in 2004, as Emirates Islamic Bank, Emirates Islamic is one of the fastest growing banks in the UAE. Combining the best in Sharia compliant services with the strongest levels of customer care and efficiency, the bank has established itself as a major player in the highly competitive financial services sector in the UAE. Offering products and services developed in line with the highest ethical standards, Emirates Islamic gives customers the transparency they seek in a strong, honest financial partner.

Emirates Islamic offers a comprehensive range of products and services across the Personal, Business and Corporate banking spectrum with a network of 61 branches and 196 ATMs/CDMs across the UAE. In the fast growing area of online and mobile banking, the bank has the reputation as an innovator, and was the first Islamic bank to launch a mobile banking app and the first bank in the Middle East to launch an App on the Windows 8 mobile platform.

Emirates Islamic has consistently received local and international awards, an acknowledgement of the banks strong record of performance, growth and market leading banking practices. The bank was named Best Islamic Bank in the UAE at the 2015 World Finance Awards and also won the prestigious Euromoney Award for Innovation in Islamic Finance 2015. In the Islamic Business & Finance Awards 2015, the bank was named Best Retail Bank, UAE; Best Commercial Bank, UAE; and Best Wealth Management, ME. The bank won several industry accolades in 2016, including Innovator in Islamic Finance by Global Finance magazine for EI trade, the worlds first of its kind Sharia-compliant online Trade Finance and Supply Chain platform and Fastest Growing Bank UAE at the Banker Middle East Industry Awards 2016.

For further information please visit www.emiratesislamic.ae

Or please contact:
Amina Al Zarooni
Media Relations Manager, Emirates Islamic
Tel: 971 4 4397430; Mob: 971 56 6405080
Email: AminaAlZarooni@emiratesislamic.ae

Tricia Kaul | Shaleen Sukthankar
ASDAA Burson-Marsteller, Dubai, UAE
Tel: 971-4-4507600, Fax: 971-4-4358040
Email: Tricia.Kaul@bm.com  | Shaleen.Sukthankar@bm.com

Press Release 2017