Emirates Islamic wins big at Banker Middle East Product Awards 2015

March 28, 2015

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has won two awards at the prestigious CPI Financial Banker Middle East Product Awards 2015.

The bank was awarded 'Best Savings Account' for its popular Kunooz Savings Account and 'Best New SME Product' for its Business Banking Packages. The awards were presented to Jamal bin Ghalaita, CEO, Emirates Islamic and Faisal Aqil, Deputy CEO-Consumer Wealth Management, Emirates Islamic, at a ceremony held recently in Dubai. Nominees were selected by a panel of industry experts and final winners were chosen through votes of registered users of CPI Financial.

Commenting on the awards, Jamal bin Ghalaita said, "Over the years Emirates Islamic has gained a reputation among individual and SME customers for its innovative products and best-in-class offering. I would like to commend the efforts of our product team that have worked hard to distinguish Emirates Islamic in a competitive environment."

Faisal Aqil commented, "It is wonderful to receive customer and industry recognition for our best-selling products." Referring to the 'Best Savings Award', he added "Since inception, the Kunooz savings account has been responsible for promoting good savings habits among customers. It not only encourages customers to save, but also rewards them significantly for their efforts."

Emirates Islamic's Kunooz account offers customers the chance to win a grand prize every month, such as a million dirhams, a luxury car or a studio apartment through maintaining a minimum balance of AED 5,000 over a three-month period. Additionally, customers have the opportunity to win one of three prizes of AED 5,000 every day by maintaining an average account balance of AED 1,000.

Commenting on the bank's SME offering, Aqil said, "SMEs are a robust pillar of the UAE economy and as a home-grown bank, we are proud to provide this crucial sector the right support for future growth and development."

The awarded Business Banking package offers various benefits such as free counter transactions, cheque book, Online Banking and others benefits by only maintaining a minimum monthly average relationship balance of above AED 10,000. In addition, employees of the SMEs will enjoy various promotional offers to cater to their personal banking needs.

Emirates Islamic is one of the fastest growing banks in the UAE in the SME sphere, having witnessed double digit growth in the financial year ended 31 December, 2014. The bank's SME offering includes customised solutions, including a dedicated value proposition for smaller companies with financing needs, to help them expand operations. The bank also provides customised working capital, cash management and transactional banking for larger SME as well as a market leading product of financing of up to AED 2 million for smaller SMEs. In addition, the bank has special packages for UAE National-owned and managed businesses.

Emirates Islamic was recently named 'Best Domestic Retail Bank' at the CPI Financial Islamic Banking and Finance Awards for the second year in a row, 'Best Premium Islamic Card 2014' and 'Best Self Employed Finance 2014' by Banker Middle East.