Emirates Islamic supports Metal Care Center’s UAE expansion with strategic financing solutions
Dubai, 27 October 2026: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced a tailored financing agreement through its Business Banking Division to Metal Care Center Factory LLC to support the development of its integrated steel processing facility in Umm Al Quwain. The partnership was formalised at an official signing ceremony attended by Senior representatives from Emirates Islamic and Metal Care Center.
The new facility will support Metal Care Center Group’s expansion and strengthen its manufacturing capabilities in the UAE. The Group is engaged in the manufacturing, trading, marketing and distribution of semi-finished and finished steel products.
The partnership reflects Emirates Islamic Business Banking’s commitment to support UAE businesses as they undertake significant capital investments, expand their operating capacity and enhance their manufacturing capabilities. It also highlights the bank’s ability to understand clients’ evolving requirements and provide tailored Shariah-compliant financing solutions to support sustainable growth. Additionally, it emphasizes the bank’s role in underpinning the manufacturing sector, a core pillar of the UAE’s long-term economic growth and diversification agenda under the Operation 300 Billion roadmap that aims to increase the sector’s GDP contribution to AED 300 billion by 2031.
Mohamed Al Hadi, Head of Retail Banking and Wealth Management at Emirates Islamic, commented: “Emirates Islamic continues to redefine Shariah-compliant banking in a fast-paced, modern economy through financial solutions that are purposeful, customer-centric and designed to support long-term prosperity. The financing of Metal Care Center Group’s new integrated steel processing facility in Umm Al Quwain reflects our role as a trusted banking partner for businesses undertaking strategic investments. Our role in driving SME development and diversification shapes our journey as a forward-thinking bank helping to build a more responsible financial ecosystem for the UAE and beyond.”
Ghazanfar Naqvi, Head of Business Banking at Emirates Islamic, said: “At Emirates Islamic, our ambition is to be a long-term financial partner to UAE Businesses, supporting them from their everyday banking requirements through their expansion and financing needs. As a financial partner we deeply understand our client’s complete business lifecycle and our focus is to provide unwavering support through every stage of growth by delivering relevant, Shariah-compliant solutions that combine capital, advice, digital capability and ecosystem access. For SMEs in particular, Emirates Islamic is demonstrating that Shariah-compliant banking can be closely aligned with the real operating needs of today’s businesses, while being commercially competitive.”
Shyam Pillai, Partner at Metal Care Center Group, said: “The new integrated steel processing facility represents an important milestone in Metal Care Center Group’s growth and strengthens our manufacturing capabilities in the UAE. Emirates Islamic demonstrated a clear understanding of our business requirements and provided financing support aligned with our expansion plans. We value this relationship and look forward to continuing to serve our customers and contribute to the UAE’s industrial and economic development.”
The successful execution of this financing partnership solidifies Emirates Islamic’s position as a trusted, stable, and growth-oriented Islamic bank that actively partners with clients over the long term, leading the market with Shariah-compliant product innovation.