3 days ago
Emirates Islamic partners with Leonteq to unveil innovative Shariah-compliant structured products
Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced a new partnership with Leonteq Securities AG (Leonteq), one of the leading structured product issuers headquartered in Switzerland, for the distribution of Shariah-compliant structured products.
This milestone collaboration will expand the Shariah-compliant product offering of Emirates Islamic in the Wealth Management domain and combines capabilities designed to bring best-in-class Islamic solutions to the market that are not only relevant and innovative, but also deeply aligned with customers' evolving needs.
Leonteq's recently launched Shariah-compliant Trust Certificate Issuance and Offering Programme will be used to issue these Shariah-compliant structured products. Emirates Islamic will co-design products issued under this programme, while Leonteq will provide end-to-end services including issuance arrangement, Shariah-compliant hedging instruments and lifecycle management.
These Shariah-compliant structured products represent a dynamic and increasingly important asset class for sophisticated investors seeking Shariah-compliant instruments, customised risk-return profiles, capital protection, and market-linked opportunities. Through this agreement, Emirates Islamic is combining the strength of Leonteq's structuring expertise and global product capabilities with the deep client relationships, regulatory robustness and market insights of Emirates Islamic. This collaboration will provide clients access to tailored investment strategies that align with their unique objectives and risk appetites.
Farid AlMulla, Chief Executive Officer at Emirates Islamic, commented: 'Emirates Islamic is pleased to partner with Leonteq to drive Islamic banking innovation in the region. The announcement adds relevance as we recognise the growing appetite among investors in the region for diversification and enhanced yield strategies. This partnership further reinforces our position as a forward-thinking financial institution with a promise to offer our customers best-in-class Shariah-compliant products of the highest ethical standards.'
Mohammad Kamran Wajid, Deputy CEO at Emirates Islamic, said: 'We are excited to initiate a partnership with Leonteq. At Emirates Islamic, we have always been committed to remain at the forefront of banking innovation, delivering well-governed and client-centric investment solutions through our various channels. The collaboration with Leonteq is a shared vision to facilitate access to sophisticated investment solutions while maintaining the highest standards of transparency, suitability and governance.'
Victor Hayek, CEO MENA of Leonteq, stated: 'We are thrilled to unveil our partnership with Emirates Islamic, showcasing a unique approach at the forefront of Islamic innovation. This collaboration enables Emirates Islamic clients to access an exclusive Shariah-compliant structured product offering, co-designed with Emirates Islamic, at a highly competitive minimum ticket size.'
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.
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About LEONTEQ
Leonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 13 countries across Europe, Middle East and Asia. Leonteq Securities AG is the main operating subsidiary of Leonteq AG. The company is a securities firm regulated by the Swiss Financial Market Authority FINMA and was assigned a BBB credit-rating by Fitch Ratings. Leonteq AG is listed on the SIX Swiss Exchange (SIX: LEON) and was assigned with an AA ESG-rating by MSCI.
