05-05-2025
- Business
- Bahrain News Gazette
ila Bank Honored as 'MENA Retail Bank of the Year' at 2025 MEED Awards
Manama: ila Bank, a digital subsidiary of Bank ABC, has been named 'MENA Retail Bank of the Year' by the Middle East Economic Digest (MEED) at the 2025 MENA Banking Excellence Award. This recognition celebrates ila's success in transforming retail banking across the region within just five years of its inception, highlighting its innovative and fully digital banking solutions that have secured user trust and loyalty across its markets.
According to Bahrain News Agency, the award underscores ila Bank's leadership in the region and strengthens its global presence, as noted by CEO Mohamed Almaraj. He emphasized that the bank is dedicated to providing a personalized, flexible, and forward-thinking banking experience that aligns with customers' lifestyles while promoting financial inclusion.
MEED highlighted that ila Bank has set a new benchmark in the region for customer experience, innovation, and inclusion, redefining the digital banking landscape. The award acknowledges a transformation that is influencing the future of retail banking throughout the MENA region.
Since its establishment in 2019, ila Bank has built a distinctive digital banking experience from scratch. From seamless onboarding to a comprehensive suite of innovative products and services available through its advanced mobile app, ila has revolutionized banking for a new generation of consumers.
Customers of ila Bank can manage their finances instantly with digital access to both conventional and Islamic banking solutions via 'ila alburaq'. These offerings include savings tools like Hassala, Jamiyah, digital Fixed Deposits, the Al Kanz prize account, government securities investment, multi-currency accounts, and various instant payment and transfer services. Additionally, customers enjoy lifestyle benefits and rewards through ila's debit and credit cards and targeted campaigns.
The bank partners with over 250 local and international merchants to offer tailored promotions that provide practical daily value. A significant initiative is its collaboration with Gulf Air, Bahrain's national carrier, providing travel-related benefits through the co-branded ila Gulf Air Credit Card.
ila Bank's growth has been fueled by a customer-centric strategy. Its successful entry into the Jordanian market marks a major milestone, with plans for further expansion across the Middle East to support financial inclusion and enhance digital banking services in the region.
Now in its fourth edition, MEED's MENA Banking Excellence Awards recognize the region's most innovative and impactful financial institutions and professionals for their excellence in customer service and digital transformation.
