The most famous Islamic financial institution in the UAE, Emirates Islamic has won three significant awards at the Islamic Financial News Awards 2022. The awards were given as a recognition of the contributions made by the bank in providing services with customer centricity, innovative banking proposition, and market-leading propositions.
The bank has won the titles
The excellence shown by Emirates Islamic Bank in customer-focused banking propositions won the title of the “Best Retail Bank in the UAE”. The bank has been serving customers with several innovative services and products like the flagship Kunooz Savings Account, which offers rewards to customers for their excellent saving habits.
The bank was named the “Most Innovative Bank in the UAE” as a recognition of its dedication to digital, customer-centric banking experiences across various sections.
Emirates Islamic Bank with its long-term experience and commitment to providing innovations in the banking sector to the customers of the UAE, holds the position of a digital forerunner among the other banks in the Islamic banking industry.
It was the first Islamic bank in the UAE to offer three major wallets like Google Pay, Samsung Pay, and Apple Pay to customers. Besides, it was the first Islamic Bank in the world to offer WhatsApp banking to users.
Apart from the two titles, the bank has also won the award for “Best Digital Offering in the UAE”. This recognition was for the contributions given by the bank in inculcating industry-leading technologies and transforming the digital banking sector.
The bank’s approach that focused on a digital-first strategy gained attention in the following years and as a result of it, mobile banking and online transactions of the bank have seen an increase of 21 percent in the year 2022.
Emirates Islamic Bank has always provided customers with leading advancements and facilities in the banking sector.
It has offered customers a variety of innovative digital banking facilities like smart pass authentication for additional security, cardless money withdrawal at ATMs, and remote branch queue tickets for the additional convenience of their customers.
The Deputy Chief Executive at Emirates Islamic, Fuad Mohammed commented on the awards that they feel immense pleasure to have received the honor as a recognition of their creative propositions and customer experiences. In order to provide a superior banking experience to the customers, side-lining with the customer-centric strategy of the bank they have made significant investments in digital banking solutions and technology. The bank will strive to keep moving on this track to provide better digital banking facilities and will try hard to maintain its status as the most preferred Islamic Bank in the nation.
Islamic Finance News Awards is one of the most significant Islamic awards given in the field of finance. It has been given high regard by the international Islamic capital markets for the efforts made in identifying and honoring the best players who have made great contributions to the Islamic financial market.
The Emirates Islamic Bank was established in 2004 and has been recognized as one of the most significant banks in the UAE.
The bank functions with a vision “to be the most innovative Shariah-compliant bank for customers, people, and communities”. It provides banking services to customers at high standards by following the Shariah principles.
It has a broad range of services and products that can cater to the needs of individuals, small businesses, and large corporates. The bank operates with the help of Islamic financing tools like Ijarah, Takafu, and Murabaha.
The bank follows the Islamic Banking pattern, a form of the modern banking system which is based on the Shari’a concepts. It operates by excluding the finance that is based on a fixed or pre-determined return. It has established a system of 42 branches with 209 ATMs and CDMs all over the United Arab Emirates.
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The bank has been showing great performance by providing the public with the latest digital advancements in the banking sector. The bank has also won accolades in World Finance Islamic Finance Awards for the “Best Islamic Bank in the UAE”, “Best Islamic Bank in Customer Experience” and the “Best Credit Card in UAE” for its series of co-branded premium Etihad Guest Credit Cards. The bank continues its service as the fastest developing bank in the UAE which introduces digital advancements to the customers.
The IFN Awards was introduced in the year 2008 and has gained fame for their independence, impartiality, and inclusiveness. It gives awards to the best legal firm that has shown an advanced and creative spirit in all aspects like innovation, development, impact, and expansion.
All legal firms that provide Shariah finance capabilities are eligible to submit their nomination for this award. The final decision will be taken based on the process of the judgment conducted by a panel of independent reviewers.
It was the 17th edition of the Islamic Finance News Awards for the year 2022 and this time also the IFN has rewarded the greatest and most influential leaders in the international Islamic finance market.