DUBAI: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, was named ‘Best SME Bank’ at the Enterprise Agility Awards, presented by du.
The bank was recognised for its innovative and business-friendly proposition for small and medium enterprises (SMEs) and its status as a preferred bank for UAE national entrepreneurs seeking Shari’a-compliant products and services for their businesses. Emirates Islamic currently supports the banking needs of more than 46,000 UAE-based SMEs, and its Business Banking segment has seen double-digit growth so far in 2019.
Wasim Saifi, Deputy CEO – Consumer Banking and Wealth Management, Emirates Islamic, said: “Emirates Islamic is proud and honoured to be named Best SME Bank at the Enterprise Agility Awards. This prestigious accolade reflects the success of our customer-centric business banking services for SMEs, which form the backbone of the UAE economy. As the Official Islamic Banking Partner of Expo 2020 Dubai, we actively support the goals of the event in fostering a business environment conducive to realising the aspirations of UAE national and resident entrepreneurs.”
Emirates Islamic has played a leading role in supporting Emarati-owned companies by working closely with UAE authorities to enable local businesses. In July 2018, the bank signed an agreement with the Department of Economic Development (DED), Dubai to support holders of e-Trader licences issued by the DED. The e-Trader licence allows UAE and GCC nationals residing in Dubai to carry business activities through various social media networks. Earlier this year, Emirates Islamic became the first Islamic bank to sign an agreement with Emirates Development Bank (EDB) to be part of EDB’s ‘Credit Guarantee Scheme’, reflecting its commitment to support the growth of SMEs in the UAE. As the Official Islamic Banking Partner of Expo 2020 Dubai, Emirates Islamic also offers exclusive Business Banking packages to meet the needs of participating SMEs.
Ghazanfar Naqvi, Head of Business Banking, Emirates Islamic said: “We are honoured and delighted to win this prestigious award. It reflects the hard work and commitment of the Business Banking team towards developing innovative products and services for SMEs, while ensuring that customer excellence remains at the heart of our proposition. We remain committed to ensuring that Emirates Islamic remains the SME bank of choice for UAE nationals and residents.”
Emirates Islamic received a number of regional and international awards in 2019, in recognition of its focus on customer excellence, robust performance, and innovation in Islamic banking. The bank was awarded ‘Best Islamic Bank, UAE’ at the World Finance Awards 2019, as well as ‘Best Islamic Bank’ at the Global Islamic Finance Awards 2019. The bank was also named ‘Most Innovative Islamic Retail Bank in the UAE’ and awarded ‘Excellence in Digital Banking’ at the 5th Islamic Retail Banking Awards 2019. In addition, Emirates Islamic secured the ‘Best Retail Bank’ and ‘Best Digital Banking Proposition’ awards from Islamic Business & Finance Magazine. Meanwhile, Islamic Finance News magazine named Emirates Islamic ‘Most Innovative Islamic Bank.’
