Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has introduced preferential pricing on issuance of trade guarantees for its existing small and medium enterprise (SME) clients who are bidding or working on projects related to UAE government institutions and entities.

As the UAE prepares to celebrate its 'Year of the 50th’ and the opening of Expo Dubai 2020, the promotional campaign which runs till 31 December, 2021 builds on Emirates Islamic’s ongoing commitment towards supporting the UAE’s SME sector, which represents more than 94 percent of the total number of companies operating in the UAE and employs over 86 percent of the private sector workforce according to the Ministry of Economy.

The price relief will help SMEs by reducing their costs of operations. Business Banking clients can benefit for both fixed expiry guarantees and open-ended expiry or auto-renewable guarantees and is applicable to clients placing cash margin for the issuance of the guarantee.

Wasim Saifi, Deputy CEO - Consumer Banking and Wealth Management, Emirates Islamic, said, “As a home-grown Islamic financial institution, supporting the UAE's SME sector is a top priority for Emirates Islamic. We are delighted to offer preferential pricing to our Business Banking customers who are bidding or working on government contracts to help reduce their costs related to issuance of trade guarantees. The promotion further reflects our commitment to ensuring that Emirates Islamic remains the SME bank of choice for UAE nationals and residents.”

-Ends-

About Emirates Islamic:

Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is one of the fastest growing banks 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 Shari’a-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 61 branches and 208 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank has the reputation as an innovator, being the first Islamic bank to launch a mobile banking app and the first Islamic bank to offer Apple Pay in the UAE.

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 prestigious Euromoney award for innovation in Islamic Finance in 2015 and Global Finance’s Innovator in Islamic Finance award for EI trade, the world’s first Shari’a-compliant online trade finance and supply chain platform. The bank has won several industry accolades in 2017, including Service Olympian Award for ‘Most Improved Website’ and ‘Best Social Media Reach’. In 2018, Emirates Islamic was named ‘Best Islamic Bank” in the UAE by Global Finance and ‘Best Islamic Banking Brand’ by Global Brands Magazine. The bank has also claimed the ‘Best Mobile Banking app’ award, and the ‘Best Islamic Card’ for its Emarati Credit Card at the Banker Middle East Product Awards 2018.

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 

Or please contact:
Amina Al Zarooni
Media Relations Manager, Emirates Islamic
Tel: 971 4 4397430;
Email: AminaAlZarooni@emiratesislamic.ae

Tricia Kaul | Imam Asalie
asda’a bcw, Dubai, UAE
Tel: 971-4-4507600, Fax: 971-4-4358040 Email: Tricia.Kaul@bcw-global.com  | Imam.Asalie@bcw-global.com 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.