Al Hilal Bank launches Student Savings Account to encourage a culture of savings among students in the UAE

Abu Dhabi: : To encourage a culture of savings among students in the UAE and build awareness about the importance of savings, Al Hilal Bank launched a Student Savings Account for university and college students.The Al Hilal Bank Student Savings Account will have several features catering to student needs with free ATM withdrawals, monthly profit distribution, and no minimum balance requirement to

Press Release

November 13, 2017

FINANCIAL SERVICES

Abu Dhabi: : To encourage a culture of savings among students in the UAE and build awareness about the importance of savings, Al Hilal Bank launched a Student Savings Account for university and college students.

The Al Hilal Bank Student Savings Account will have several features catering to student needs with free ATM withdrawals, monthly profit distribution, and no minimum balance requirement to operate the account.

Commenting on the launch of the Student Savings Account and how it could benefit students; Alex Coelho, CEO of Al Hilal Bank, emphasized: “It is in our best interest that students in the UAE cultivate savings habits early in life, manage their finances and spend wisely.” He added: “Since we find great interest and joint success in aligning our objectives with the national agenda of the UAE; we will be offering five internship slots to each university in the UAE, through a draw on our registered Student Savings Account Holders.”

Kiosks and booths will be installed at major universities for immediate, on-the-ground interaction with the students; providing them with information on how to operate their accounts and assisting them with any queries on account opening.

SMS and social media content will be used to target the millennial segment.

Al Hilal Bank strives for excellence through innovative and progressive Shariah-compliant products such as the Student Savings Account.

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About Al Hilal Bank:

One of the fastest growing banks in the UAE, Al Hilal Bank is a 100% government-owned progressive Islamic bank headquartered in Abu Dhabi. With authorized capital of AED 4 billion, it was founded by the Abu Dhabi Investment Council, an investment arm of the Abu Dhabi government. Operating with 24 branches in the UAE and 3 branches in Kazakhstan through the help of 1,300 staff members, the Bank provides Shariah-compliant Personal, Wholesale and Treasury banking services to over 100,000 customers and manages the Al Hilal Global Balanced Fund, Global Sukuk Fund and the GCC Equity Fund. The Al Hilal Bank Global Sukuk was awarded the prestigious Lipper Fund Award for 2017 by Thomson Reuters, recognizing it as the “Best Fund over 3 years” in the Global Islamic Banking category. The bank was also recognized as the Safest Islamic Financial Institution in the GCC by Global Finance in 2016 and 2017, and attained an A1 Moody’s and A+ Fitch credit rating.