Latest news with #MENARetailBankoftheYear
Bahrain News Gazette
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.
Al Bawaba
05-05-2025
- Business
- Al Bawaba
ila Bank named ‘MENA Retail Bank of the Year' at the 2025 MEED MENA Banking Excellence Awards
ila Bank, powered by Bank ABC, has been awarded the prestigious title of 'MENA Retail Bank of the Year' by the Middle East Economic Digest (MEED) at the 2025 MENA Banking Excellence Awards. The award ceremony took place on 30 April in Dubai, bringing together regional banking leaders to celebrate financial institutions driving innovation and impact in financial services. The award recognises ila's phenomenal success in redefining retail banking across the region within just five years of its launch. The Bank was commended for delivering an innovative, fully digital banking experience that has earned the trust and loyalty of users across its markets. Commenting on the win, Mohamed Almaraj, ila Bank's CEO, said, 'We are honored to receive the 'MENA Retail Bank of the Year' title by MEED. This award reinforces ila's leadership in the region and elevates our profile on the global stage. Our aim has always been to provide a personalised, agile and future-ready banking experience that enriches our customers' lifestyles and promotes financial inclusion.' 'I extend my heartfelt gratitude to our customers for believing in our vision, to the Board and leadership at Bank ABC for their unwavering support, and to the passionate ila team for their commitment to our customer-first approach. We also thank MEED for this recognition of our journey.' added Mr. Almaraj Commenting on the award rationale, MEED stated: 'By reimagining the digital banking journey, ila Bank has set a new regional benchmark for customer experience, innovation, and inclusion. This win recognises a standout transformation that continues to shape the future of retail banking across MENA.' Since its launch in 2019, ila Bank has built a unique digital banking experience from the ground up. From seamless onboarding in minutes to a premium suite of innovative products and services accessible through its state-of-the-art mobile app – ila has revolutionised banking for a new generation of consumers. ila customers are empowered to manage their finances at the click of a button, with instant access to innovative conventional in addition to Islamic banking solutions through 'ila alburaq'. These include innovative saving solutions such as Hassala, Jamiyah, digital Fixed Deposits, life-changing prize account 'Al Kanz', Government securities investment solution, multi-currency accounts and an array of instant payments and transfer features. In addition, they can avail a wide range of lifestyle benefits and rewards, through ila's debit and credit cards and tailored campaigns. The Bank partners with over 250 local and international merchants to deliver curated offers that provide tangible daily value. A standout initiative is ila's partnership with Bahrain's national carrier, Gulf Air, offering unmatched travel benefits through the co-branded ila Gulf Air Credit Card. ila's rapid growth has been driven by its customer-first approach. Its expansion into Jordan has been a tremendous success, and plans are in place to further penetrate other Middle Eastern markets, advancing financial inclusion and elevating digital banking experiences across the region. In its fourth edition this year, MEED's MENA Banking Excellence Awards honours the region's most innovative and impactful financial institutions and professionals for their excellence in customer service and digital transformation.
