The Emirates Islamic bank held leverage as it was viewed as a highly favored bank for entrepreneurs seeking Shariah-compliant products and services for their businesses.
Emirates Islamic bank has been awarded ‘Best Islamic Bank for SMEs’ at the MEA Finance Award ceremony held at the Ritz Carlton JBR in Dubai. Islamic Business Banking was appreciated for the innovative postulation for SMEs (Small and Medium Enterprises). The bank held leverage as it was viewed as a highly favoured bank for entrepreneurs seeking Shariah-compliant products and services for their businesses.
The award programme was coordinated by the MEA Finance Magazine to provide due credit to financial institutions that have benefitted clients and customers with innovation and outstanding delivery of products and services amid frenetic competition and evolving technologies. It also aims to recognise financial institutions, technology solutions and individuals for their achievement and exhilarating leadership in
The head of business banking of Emirates Islamic, Syed Ghazanfar Naqvi, received the award at the ceremony. The Islamic Bank is one of the four leading Islamic banks in Dubai, UAE. The business banking sector has experienced significant growth this year as one out of ten SMEs residing in the UAE hold business with Emirates Islamic, thereby showcasing a stable value proposition.
The MEA awards recognised Emirates Islamic Bank as a bank showing exceptional commitment and laying out innovative product propositions and outstanding customer services. The bank offers a comprehensive range of Shariah-compliant products and services across the personal, business and corporate banking spectrum, having a network of 41 branches and 179 ATMs and CDMs over UAE. It is the first Islamic bank to launch an online mobile banking app and offer Apple Pay. It has also embarked on launching Chat banking services via WhatsApp for customers.
Emirates Islamic Bank stated that it is a moment of honour to win the award of such prestige for their strive to commit towards one of the key UAE economic pillars, the SME ecosystem. The SME sector mirrors the bank’s pursuit towards developing innovative products and services for SMEs while also ensuring that customer excellence remains at the heart of their business module. The bank aims to continue taking steps to ensure that it remains the preferred bank of choice for UAE nationals and residents.
Emirates Islamic has been in the limelight and bagging awards, both local and international, due to its record performance in the SME banking sector. It won the ‘Most Innovative Islamic Bank’ and ‘Best Islamic Bank’ awards at the Islamic Finance Awards in 2020 held by World Finance. It also received the title ‘Islamic Bank of the Year- UAE 2020’ by The Banker, the magazine owned by the Financial Times. New York-based Global Finance magazine has also proclaimed Emirates Islamic as the ‘Best Islamic Financial Institution, UAE’ for the second time on its list of ‘World’s Best Islamic Financial Institutions.’
The bank marked UAE’s 51st National Day last week at its Dubai Healthcare City headquarters to celebrate UAE’s heritage with a display of traditional Emirati culture.
The SME sector generally holds a central focus from the UAE government as they are viewed as the key to economic diversification and growth, aiding the boost in national human resource creation. The Emirates Islamic bank works its way to provide flexible financing opportunities to SMEs as they lay the foundation for a robust economy and dynamic community. Additionally, the bank provides financial assistance to those in need through their Emirates Islamic Charity Fund, focusing on food, health, shelter and contributions to social welfare.