Emirates Islamic named ‘Best Islamic Corporate Bank in the World' and ‘Best Islamic Financial Institution in the UAE' at the Global Finance – Best Islamic Financial Institutions Awards 2025

Mid East Info

30-04-2025

Dubai,April 2025: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has been honoured with two prestigious awards at the Global Finance – Best Islamic Financial Institutions Awards 2025, acknowledging the bank's regional and global importance as a leader in Islamic finance offerings.
The Global Finance – Best Islamic Financial Institutions Awards honour the best in the global Islamic financial industry and are among the most prestigious awards recognised by Islamic banks worldwide.
Emirates Islamic was awarded the prestigious title of 'Best Islamic Corporate Bank in the World' for its value proposition encompassing working capital finance, trade finance, project finance, syndicate and structured finance and cash management services to large and mid-sized corporates, financial institutions, sovereigns, and government-related entities. Pioneering Shariah-compliant solutions and structures including Revolving Credit Facilities, Musharaka Structures, Cash and Trade products and services, the Bank's Corporate and Institutional Banking division achieved a record yearly income with approximately 30 per cent year-on-year growth. The Bank successfully managed and executed its debut USD500 million Islamic syndicated facility; a first-of-its-kind raised by a UAE Shariah-compliant financial institution.
The bank has championed an increased focus on ESG financings, participating in over USD 3.5 billion of ESG-related syndicated financings year-to-date. Emirates Islamic has invested heavily in digitisation, implementing a comprehensive digital global Cash and Trade finance management ecosystem and leveraging host-2-host and API banking, and more to enhance customer experience and streamline processes.
Furthermore, Emirates Islamic was also awarded the title of 'Best Islamic Financial Institution in the UAE' for the bank's outstanding performance in 2024 and its commitment to innovation in the Islamic banking sector. Emirates Islamic delivered its best-ever financial performance during 2024, cementing its position as the fastest-growing Islamic bank in the UAE. Profit before tax grew by a significant 46% to AED 3.1 billion while total income grew by 13% to AED 5.4 billion in 2024, driven by higher funded and non-funded income. As part of the bank's commitment to sustainable Islamic financing, it launched its first-ever 5-Year USD 750 million Sustainability Sukuk in 2024.
Commenting on the recognition, Farid AlMulla, Chief Executive Officer at Emirates Islamic, said: 'Since our founding twenty years back, Emirates Islamic has been a leader in Islamic Finance and remains committed to contributing to the UAE's progress by spearheading innovations in the Islamic banking sector. We consistently have pioneered the development of innovative Shariah-compliant products and services that adhere to the highest standards of ethical banking. We are delighted to have received recognition by Global Finance for our achievements, and we are determined to build on our success in the years to come.'
Mohammad Kamran Wajid, Deputy Chief Executive Officer, added: 'We are proud to have been recognized both for our success in the UAE, but also on a global scale for our Corporate banking offerings. Over the last few years, growing our Corporate and Institutional Banking segment has been a key strategic objective. We have invested heavily in digitization to improve our processes and improve the overall customer experience. At Emirates Islamic, we challenge ourselves to provide the very best for our customers, whether through providing personalized Shariah-compliant financial solutions, digital innovations or through our commitment to corporate social responsibility and social welfare.'
About Emirates Islamic:
Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is a leading Islamic financial institution 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 Shariah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 40 branches and 229 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 received local and international awards, in recognition of its strong record of performance and innovation in banking. Emirates Islamic was recognized as 'Best Overall Islamic Bank' and 'Most Innovative Islamic Bank' at the Islamic Finance News Awards 2024. The Bank was also named the 'Most Innovative Islamic Bank' at the prestigious Euromoney Islamic Finance Awards 2024.
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.