10 December 2015

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced that it has been recognised for 'Islamic Banking Innovation' at the 2015 Enterprise Agility Awards. The award recognises Emirates Islamic's significant contribution to product and service innovation in the the UAE's burgeoning banking sector.

The Enterprise Agility Awards, organised by Entrepreneur MENA publications, a division of BNC Publishing, aim to recognise and honour enterprise leaders and individuals in the Middle East who have distinguished themselves, and demonstrated innovation and outstanding business conduct. Organisations across 20 industries including retail, healthcare, construction, hospitality, aviation, education, banking, and energy, regarded as key drivers of the Middle East's economy, are considered for the awards.

Commenting on the award, Jamal Bin Ghalaita, Chief Executive Officer of Emirates Islamic said: "We are delighted to be recognised by the industry and Entrepreneur MENA in particular, for our long term commitment to innovation. Emirates Islamic has consistently innovated across business lines as we firmly believe that innovation is what distinguishes us from competition and drives us to excellence."

Emirates Islamic has long advocated about the crucial need for innovation in Islamic banking on public platforms in the UAE, including at the launch of the ISLAMIC BANKING INDEX by EMIRATES ISLAMIC™, a consumer survey on Islamic Banking in the UAE, which offered empirical evidence that innovation is among the key drivers of Islamic banking's future success.

"Over the years, we have taken the lead in product and service innovation be it with EI Trade, our customised Shari'a-compliant online trade and supply chain platform or the Nasdaq Dubai Murabaha platform, another first-to-market solution which enables corporate and individuals to conduct Islamic financing transactions quickly at a fixed fee," continued Bin Ghalaita. "Emirates Islamic was the first Islamic bank to launch a mobile app in the UAE and earlier this year, we introduced EI World, a mobile banking app that allows Emirates Islamic customers to conduct banking transactions in a fun and engaging environment. With a firm focus on continued innovation, we are well positioned to lead the Islamic banking industry as we work towards fulfilling the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai to make the emirate the global capital of Islamic Economy."

Commenting on Emirates Islamic's recognition on behalf of Entrepreneur Middle East magazine, Wissam Younane, Director of BNC Publishing said: "We were pleased to present Emirates Islamic with the distinction of Islamic Banking Innovation at the 2015 Enterprise Agility Awards. Emirates Islamic credits all of this success to its high standard of services that are done in line with Shari'a principles, keeping the customer at the heart of all that it does. That focus on the consumer positions this financial institution in the Islamic banking space a leg ahead of others operating in the same arena."

Entrepreneur MENA publications are a division of BNC Publishing, officially licensed to BNC Publishing by the U.S. business and growth publication Entrepreneur.