The Banking Executive Magazine - January 2022 Issue

Emirates Islamic Emirates Islamic delivering a net profit of AED 823 million for 2021. • Emirates Islamic maintained healthy liquidity and strong capital ratios, enabling the Bank to grow Customer Financing by 4% in line with improved economic activity. • During 2021, one of Emirates Is- lamic's major achievements was the successful issuance of a US$500 million 5-year Sukuk. This issue was well received by the global investment community, demonstrating strong investor con- fidence in our financials and growth outlook, as well as the favourable outlook for the UAE economy. • We remain grateful to the leader- ship of our great nation for their ongoing swift and extraordinary re- sponse to the global pandemic. • 2021 was a milestone year for the UAE as the nation proudly cele- brated its golden jubilee and suc- cessfully, safely and responsibly welcomed the world to Expo 2020 Dubai. Emirates Islamic is proud to be the official Islamic banking part- ner of Expo 2020 Dubai and show- case the ethical values of Islamic Banking, the world’s oldest and most relevant banking system. • As the Islamic bank of choice in the UAE, we continue to play a pivotal role in the advancement of the Islamic banking sector in the UAE and remain deeply commit- ted to supporting the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-Presi- dent and Prime Minister of UAE and Ruler of Dubai, to make Dubai the global capital of Islamic econ- omy. SALAH MOHAMMED AMIN, CHIEF EXECUTIVE OFFICER OF EMIRATES ISLAMIC: • Emirates Islamic has again reaf- firmed its position as a leading fi- nancial institution in the UAE as evidenced by our strong financial performance. • The Bank improved its capital, liq- uidity and credit profile, enabling further Customer Financing growth. With an increase in busi- ness activity in 2021, we acceler- ated our sales momentum across our Retail, Business and Wholesale segments. • The Bank’s customer deposits grew 1% during 2021 to AED 47.3 bil- lion, with current and saving ac- count balances up by 9.4% improving the efficiency of the di- versified funding base. • A superior customer experience is at the heart of everything we do at Emirates Islamic. As Covid-19 con- tinued to alter the way we live, work and bank, we further en- hanced our digital solutions which helped increase customer adoption of digital banking. As the official Is- lamic banking partner of Expo 2020 Dubai, Emirates Islamic was proud to launch our limited-edi- tion, free-for-life co-branded Mas- tercard World Credit Card with unique benefits to enhance the Expo experience for UAE residents. • We continued to develop our local Emirati talent, empowering them to play a leading role in shaping the industry's future. • We are proud of our Islamic her- itage, and as part of our commit- ment to the society, we contributed over AED 51 million in 2021 through the Emirates Islamic Char- ity Fund for a range of humanitar- ian causes across the UAE. In order to support the UAE’s mission to en- sure a respectable life for all Emi- ratis and the highest possible standard of social stability, Emi- rates Islamic co-operated with UAE’s Non-performing Debt Relief Fund to waive debts of over AED 4 million for 84 disadvantaged UAE National customers. Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is one of the fastest growing banks in the UAE. Es- tablished in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly com- petitive financial services sector in the UAE. Emirates Islamic offers a comprehen- sive range of Shari’a-compliant prod- ucts and services across the Personal, Business and Corporate banking spectrum with a network of 42 branches and 194 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp. Emirates Islamic has consistently re- ceived local and international awards, in recognition of its strong record of performance and innova- tion in banking. The bank was named ‘Best Islamic Bank in Cus- tomer Experience, UAE, 2020’ at the World Finance Islamic Finance Awards 2021 and received the ‘Best Digital Innovation in Islamic Bank- ing’ award at MEA Finance Banking Technology Summit & Awards, in recognition of its commitment to service excellence and digitisation.It was awarded 'Best Credit Card in the UAE' for its Skywards Black Credit Card and also received the 'Best Credit Card' award for its Emarati Visa Signature credit card at the 2021 International Finance Awards. 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. Emi- rates Islamic is the Official Banking Partner to Expo 2020 Dubai. 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. ISSUE 157 JANUARY 2022 the BANKING EXECUTIVE 35