Emirates Islamic, one of the leading Islamic financial institutions in the UAE, announced that it has been awarded the prestigious ‘Islamic Bank of the Year – UAE 2020’ award by the globally renowned Financial Times’ monthly publication, The Banker.
The global award recognises Emirates Islamic’s leading position among the world’s best Islamic financial institutions. In awarding the title to Emirates Islamic, The Banker stated that “Emirates Islamic has been named Islamic Bank of the Year in the UAE for the first time, thanks to its impressive financial performance, improving customer services, and expanded product portfolio.”
Salah Amin, Chief Executive Officer, Emirates Islamic said: “At Emirates Islamic, we are extremely pleased to be named ‘Islamic Bank of the Year – UAE 2020’ by Financial Times’ The Banker publication. The award by The Bankerrecognises not only our financial success over the years but also is testimony to our product and service innovations which have been paramount to become a leader in the Islamic banking sector in the UAE.”
Salah Amin added, “Islamic banking has grown consistently over the years, and Emirates Islamic has played a pioneering role to drive the growth in this sector and support the Government’s goal of making Dubai the global capital of the Islamic economy. As part of our customer-centric strategy, we have invested heavily in technology and digital banking solutions to provide our customers with a superior customer experience. We have always embraced innovation as one of our core strategic pillars - we were the first Islamic bank to launch a Mobile Banking app in the UAE, first Islamic bank to launch Apple Pay in the UAE and the first Islamic bank in the world to launch Chat Banking through WhatsApp. Going forward, we will continue to make further strides towards our goal of creating a superior banking experience for our customers and maintaining our position as the nation’s preferred Islamic Bank.”
Emirates Islamic delivered a strong set of results in 2019 with net profit of AED 1,061 million, surpassing the one billion dirham mark for the first time.
The recognition from The Banker follows a series of local and international accolades received by Emirates Islamic in recent months, in recognition of its strong record of performance and innovation in banking. The Bank was named ‘Best Islamic Financial Institution in UAE’ 2020 in New York-based Global Finance magazine’s list of the ‘World’s Best Islamic Financial Institutions.’ Emirates Islamic was also recognized as 2019’s ‘Best Islamic Bank’ and the ‘Most Innovative Islamic Bank’ by the World Finance Magazine’s global Islamic Finance Awards. The Bank was also awarded the ‘Most Innovative Islamic Bank’ by Islamic Finance News, a leading global Islamic finance news provider.