|10 October, 2017

Emirates Islamic contributes AED 1 million to support 38 graduates from Ajman University

In cooperation with Ajman University, Emirates Islamic evaluated individual cases to ensure that

Emirates Islamic contributes AED 1 million to support 38 graduates from Ajman University
Emirates Islamic partners with Ajman University to help graduates facing financial problems obtain their university degrees


Dubai - As part of its commitment to the community, Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced that it had collaborated with Ajman University to financially support 38 graduates who were unable to receive their degree due to financial dues.

In cooperation with Ajman University, Emirates Islamic evaluated individual cases to ensure that graduates who needed financial support to obtain their university degrees, received timely support, enabling them to seek employment and improve their overall living standards.

Commenting on the initiative, Awatif Al Harmoody, General Manager - General Manager, Operational Governance at Emirates Islamic, said: “We are pleased to strengthen our cooperation with Ajman University and contribute close to AED 1 million through our Emirates Islamic Charity Fund to ease the financial burden of these graduates. At Emirates Islamic, we strive to provide financial assistance to those who need it, with particular focus on supporting our youth.

“This initiative reflects our commitment to the UAE's Year of Giving initiative, and embodies the spirit of giving according to the provisions of Shari’a. Our efforts also align with the UAE Vision 2021 which has education as its foundation and aims to provide world-class education to build a knowledge economy and establish initiatives for scientific research, in addition to nurturing talent that can create vital new economy sectors in the future," added Al Harmoody.

On his part, Dr. Karim Seghir, Chancellor of Ajman University, praised Emirates Islamic’s continuous support to the University and its contribution to this initiative. It has helped 38 graduates receive their certificates after the Fund cleared their debts. Dr. Karim stressed that “It is the Year of Giving and the best giving is to give the students the freedom to start their career equipped with their graduation certificates. The best investment is in the human capital and we aim to achieve sustainable investment in our students’ future. He also pointed out that the University is keen on enhancing its role and its social responsibility, which has always led to the launch of various initiatives aimed at supporting science and its students. 

In 2016, Emirates Islamic launched the Emirates Islamic Charity Fund, to govern and manage the bank’s strategy for charitable donations and giving, one of the key pillars of the bank’s overall CSR framework.

The Emirates Islamic Charity Fund provides financial aid under several main areas, including food, shelter, health, education and social welfare. The Fund has been set up with the primary objective of allocation of financial aid to large charities, public and private institutions, as well as individuals in need.

This year, the bank has so far distributed more than AED 46 million to various charitable causes. Emirates Islamic has disbursed funds towards medical and rehabilitation equipment to government and privately run institutions.

-Ends-

About Emirates Islamic:
Established in 2004, as Emirates Islamic Bank, Emirates Islamic is one of the fastest growing banks in the UAE. Combining the best in Shari’a compliant services with the strongest levels of customer care and efficiency, the bank has established itself as a major player in the highly competitive financial services sector in the UAE. Offering products and services developed in line with the highest ethical standards, Emirates Islamic gives customers the transparency they seek in a strong, honest financial partner.

Emirates Islamic offers a comprehensive range of products and services across the Personal, Business and Corporate banking spectrum with a network of 64 branches and 204 ATMs/CDMs across the UAE. In the fast growing area of online and mobile banking, the bank has the reputation as an innovator, and was the first Islamic bank to launch a mobile banking app and the first bank in the Middle East to launch an App on the Windows 8 mobile platform.

Emirates Islamic has consistently received local and international awards, an acknowledgement of the bank’s strong record of performance, growth and market leading banking practices. The bank was named ‘Best Islamic Bank in the UAE’ at the 2015 World Finance Awards and also won the prestigious Euromoney Award for Innovation in Islamic Finance 2015. In the Islamic Business & Finance Awards 2015, the bank was named ‘Best Retail Bank, UAE’; ‘Best Commercial Bank, UAE’; and ‘Best Wealth Management, ME’. The bank won several industry accolades in 2016, including Innovator in Islamic Finance by Global Finance magazine for EI trade, the world’s first of its kind Shari’a-compliant online Trade Finance and Supply Chain platform and Fastest Growing Bank – UAE at the Banker Middle East Industry Awards 2016.

For further information please visit www.emiratesislamic.ae

© Press Release 2017

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