Emirates Islamic has been honored with two prestigious titles at the MEA Finance Awards 2024: ‘Best Islamic Bank for SMEs’ and ‘Best Bond Issue of the Year.’
The bank received the SME award for its strong focus on supporting small and medium enterprises (SMEs) through tailored Shari’ah-compliant products and services. With over 40,000 SMEs served, it launched initiatives like the ‘Businesswomen Account’ for female entrepreneurs and the ‘Emarati Absher Account’ for Emirati startups. It also embraced digitisation, offering 45+ digital services and achieving 90% onboarding via digital journeys, alongside collaborations like a joint credit guarantee scheme with Emirates Development Bank.
The ‘Best Bond Issue of the Year’ accolade was awarded for the bank’s USD 750 million senior unsecured Sukuk issued in May 2024. The Sukuk, oversubscribed at USD 2.1 billion, aligns with Emirates NBD Group’s sustainability goals, including mobilizing AED 1 trillion in sustainable finance by 2030.
Executives highlighted the bank’s dedication to innovation, customer service, and sustainability, emphasizing its role in supporting the UAE’s SME ecosystem and advancing Islamic finance.
The MEA Finance Awards celebrate exceptional achievements in finance, recognizing institutions and individuals for their innovative and impactful contributions to the industry.
News Source: Dubai Media Office
