• The launch marks a significant milestone for the bank, positioning it among the global pioneers in Islamic Certificate of Deposit Programmes and the first in the UAE
  • Programme size is set at USD 2 billion

Dubai, UAE: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has successfully launched the UAE’s first Shari’ah-compliant Certificate of Deposit (CD) Programme. As one of the pioneering initiatives of its kind globally and the first in UAE, this initiative marks a significant advancement in Islamic Banking and reflects Emirates Islamic’s leadership in product innovation.

The Islamic CD Programme provides institutional investors with an opportunity to diversify their Islamic money market portfolios at competitive yields while aligning with Emirates Islamic’s goal to broaden its funding sources and extend its reach into international markets. The Programme size is set at USD 2 billion and is designed with flexibility in mind, allowing investors to invest across multiple tenors and currencies.

Farid AlMulla, Chief Executive Officer at Emirates Islamic, commented: “We are proud to introduce our Certificate of Deposit Programme, a landmark proposition that strengths Emirates Islamic’s position as a global leader in Islamic Banking. This launch reflects our commitment to financial innovation and reinforces our role in advancing the UAE’s position as a global hub for Islamic finance in alignment with the ‘We the UAE 2031’ vision. Additionally, it highlights our dedicated focus to pioneering Islamic financial solutions that serve both national priorities and the diverse needs of global investors.”

Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic, stated: “The introduction of Certificates of Deposit as an additional liquidity management instrument aligns with our strategic objectives to strengthen both client and market relationships by providing customised financial solutions. This initiative broadens our product portfolio and positions Emirates Islamic to attract new investor segments globally, while further enhancing our resilience and leadership in Islamic liquidity management in accordance with the ‘UAE Strategy for Islamic Finance and Halal Industry 2031’ approved by the UAE Cabinet.”

Ebrahim Qayed, Head of Treasury and Markets at Emirates Islamic, said: “Emirates Islamic’s Certificate of Deposit Programme represents a breakthrough in Shari’ah-compliant liquidity management. As the first of its kind in the UAE and among the earliest such programmes issued in hard currency globally, this product underscores our commitment to innovation and our ability to deliver solutions that address evolving market needs. By introducing this unique instrument, we are not only diversifying funding sources but also positioning Emirates Islamic at the forefront of shaping the future of Shari’ah-compliant capital markets.”

According to market data, the outstanding global CD market is valued at approximately USD 729 billion projected to reach USD 1.2 trillion by 2033. Around 46 per cent of global CD issuances are denominated in USD.

As demand for short-term instruments continues to rise globally, Certificate of Deposit Programmes are also gaining traction within the GCC as a valuable tool for liquidity management and investment diversification. The launch of Emirates Islamic’s Shari’ah-compliant CD Programme marks a pivotal moment in the Islamic banking landscape, while reinforcing the UAE’s ambition to become a regional and global centre for Islamic finance.

About Emirates Islamic:

Emirates Islamic Bank PJSC (Emirates Islamic) is the Islamic banking arm of the Emirates NBD Group and is a leading Islamic financial institution in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE.

Emirates Islamic offers a comprehensive range of Shariah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 39 branches and 231 ATMs/CDMs across the UAE. In the area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp.

Emirates Islamic has consistently received local and international awards, in recognition of its strong record of performance and innovation in banking. The Bank won the “Islamic Retail Bank of the Year – Middle East” and “Most Innovative Murabaha” awards at the prestigious The Banker’s Islamic Banking Awards 2025. Additionally, the bank was named ‘Best Islamic Corporate Bank in the World’ and ‘Best Islamic Financial Institution in the UAE’ at the Global Finance - Best Islamic Financial Institutions Awards 2025. Emirates Islamic was also awarded the prestigious title of ‘The World’s Best Islamic Digital Bank’ at the Euromoney Islamic Finance Awards 2025.

As part of its commitment to the UAE community, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions. For further information please visit www.emiratesislamic.ae

For further information please visit www.emiratesislamic.ae

Or please contact:
Amina Al Zarooni
Media Relations Manager, Emirates Islamic
Email: AminaAlZarooni@emiratesislamic.ae

Burson
Email: emiratesislamic@bursonglobal.com