Islamic finance industry growing as Rakbank launches more products
Rakbank is starting 2013 with the launch of its new Islamic banking window. The bank’s Islamic banking services will be offered through a separate brand, Rakbank Amal, to include a wide range of products from accounts, loans and cards to takaful policies.
“As the fastest growing bank in the region, introducing Islamic Banking is the natural direction for Rakbank as it strives to better serve existing and potential customers in the country through added choice,” said Graham Honeybill, Rakbank chief executive officer.
Just like Rakbank brought innovation into conventional banking through trendsetting products, online solutions, and award-winning customer service, Rakbank Amal aims to bring the same foundations into Islamic banking to enhance the local Islamic Banking market. “The bank’s solid reputation for success and its commitment to customer service pave the way for a promising foundation for Amal with the potential to set itself apart in a crowded market,” added Mufaddal Khumri, Rakbank head of Islamic Banking.
Available throughout the Bank’s 33 branches, Rakbank Amal provides financial solutions to a wide customer base with a preference for Shariah-compliant products and services. “With rising investment flows in Islamic Finance in the UAE and Dubai’s ambitious plans to set up an integrated platform for an Islamic Economy, Rakbank aims to be at the forefront of Islamic Banking solutions to meet growing local demand,” explained Khumri.
Rakbank Amal’s Shariah-compliant products include Jood account.
- Why is the Israeli shekel so weak?
- What doesn't kill you, makes your stronger: why the Arab Bank is likely to emerge from the Israeli lawsuit 'unscathed with flying colors'
- Too foreign? An inside look into the struggles of foreign banks in Saudi Arabia
- A clash of civilizations: are foreigners newly entering the Saudi stock market about to face a culture shock?
- From tweets to public outrage: understanding Turkey's bitterness towards credit rating agencies
- Rakbank closes J2EE infrastructure deal with Gulf Business Machines
- Rakbank records 50 percent net profit rise in 1Q 2002
- RAKbank launches RAKinvest India Fund Product
- RAKBANK signs valuation services contract with Colliers International
- RAKBANK Reports AED 729 million Profit for First Nine Months of Year