Emirates Islamic's Kunooz Savings Account named Best Banking Product by Global Banking & Finance Review

February 12, 2019

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has won the prestigious Best Banking Product award from Global Banking & Finance Review for its flagship Kunooz Savings Account. The award reaffirms the bank's excellence in innovation and the success of the Kunooz Savings Account in building a healthy savings culture in the UAE.

The Global Banking & Finance Awards, established in 2011, honour innovation, achievement and strategy within the global financial community.

Commenting on the award, Wasim Saifi, Deputy CEO - Consumer Banking and Wealth Management, Emirates Islamic: "Emirates Islamic is honoured to win the award of Best Banking Product for the Kunooz Savings Account. This recognition is testimony to the dedication of our team and our commitment to offer innovative products and services The Kunooz account in particular has been instrumental in encouraging Emirates Islamic customers to develop good saving habits by rewarding them significantly for their efforts."

"According to findings from the McKinsey Global Sentiment Survey, 53% of UAE consumers are increasingly looking for ways to save money, amid a wider culture shift towards cost-consciousness. In this scenario, our Kunooz Account offers multiple benefits to our customers, helping them save for their future while giving them an opportunity to win monthly and daily cash prizes.", added Saifi.

Emirates Islamic's Kunooz Savings Account is the bank's flagship account that offers customers a chance to win AED 1 million or a Tesla car for every AED 5,000 maintained monthly in their account. Additionally, customers have a chance to win one of five cash prizes worth AED 3,000 every day for every AED 1,000 maintained daily in their account.

In 2018, more than 1300 prizes were given away to customers, including 8 Tesla cars and more than AED 8 million in cash prizes. For 2019, the Bank will increase the prizes pool by more than 30%, in order to continue increasing the value to customers and encouraging a strong savings culture.