Emirates Islamic wins major awards at The Banker’s Islamic Banking Awards 2025
Dubai, 31 July 2025: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has won two prestigious titles at The Banker’s Islamic Banking Awards 2025 in recognition of its strong performance and ongoing contribution to driving Islamic finance within the region and beyond.
The Banker’s Islamic Banking Awards 2025 honours banking institutions for market-moving deals and innovative contributions that push boundaries, not only through new products and services, but also in the structuring of landmark transactions and facilities.
Emirates Islamic was awarded the title of ‘Islamic Retail Bank of the Year – Middle East’ for its standout performance in 2024 and recognition of its continued rollout of cutting-edge digital services and the modernisation of both its front-end offerings and back-end systems. In 2024, the Bank’s retail banking operations crossed AED 1.7 billion (USD 463 million) in net profit before tax - up 57 per cent on the previous year. Financing volumes also increased across key segments, such as personal and home finance, while growth in the bank’s Shariah-compliant cards portfolio also contributed to an expanding net financing book. The bank observed sustained growth in customer deposits, supported by a 14 per cent increase in active retail clients. Emirates Islamic’s Business Banking platform currently serves 50,000 customers while the bank’s award-winning EI + Mobile Banking App has more than 500,000 registered clients.
Winning in the ‘Most Innovative Murabaha’ category for a syndicated Commodity Murabaha facility to Africa Finance Corporation (AFC), Emirates Islamic demonstrated its commitment to delivering the highest standards of service and execution in Murabaha transactions for its clients.
This landmark transaction was the debut syndicated Islamic Finance transaction for AFC and underscores Emirates Islamic’s commitment to advancing Islamic finance beyond traditional markets. By leveraging its expertise in Shariah-compliant financing, Emirates Islamic played a vital role in structuring a facility that meets AFC’s operational and developmental goals while demonstrating the increasing relevance of Islamic finance in enabling development finance institutions to meet their objectives in a sustainable and inclusive manner. The success of the deal also highlights the ability of Shariah-compliant deals to attract overseas capital in support of infrastructure and industrial growth across Africa.
Emirates Islamic has played a key role in jointly structuring and executing several landmark deals across the region, including sustainability linked financing, supporting acquisitions, trade and more.
Farid AlMulla, Chief Executive Officer at Emirates Islamic, commented: “Emirates Islamic is proud to be recognised as a significant player in the regional Islamic finance sector, both in the Retail and Corporate segments. It exemplifies our commitment to meeting the growing demand for Islamic finance solutions. With milestone issuances in the UAE and the region, we will continue to offer our comprehensive Islamic banking proposition to all our customers, supported by digital banking experiences that are both convenient and seamless.”
Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic, said: “Winning laurels at The Banker’s Islamic Banking Awards 2025 has been a truly proud achievement. Emirates Islamic has been instrumental in raising the profile of Islamic banking not only in the UAE but across the globe, with innovation serving as a key component of our success over the past few years. We have consistently set new benchmarks for the Islamic banking sector, pioneering digital initiatives while introducing innovative products and services.”