Al Hilal Bank joined international discussions on the state and future of Islamic banking during the World Islamic Banking Conference (WIBC) held recently in Bahrain. More than 50 countries were represented and over 1,200 industry leaders and 65 strategic partners, sponsors and exhibitors in attendance to provide a global perspective on Islamic banking and finance.
A Platinum Strategic Partner of WIBC – the world’s largest forum for Islamic financial leaders – Al Hilal Bank actively participated in talks on the dramatic growth of the global Islamic finance sector, which is estimated to be worth more than USD 1 trillion. The industry extends beyond the Middle East to more than 300 Islamic banks in over 75 countries. The MENA region was an area of particular interest as its Islamic banking business is expected to more than double to USD 990 billion by 2015.
As a progressive Islamic bank, Al Hilal Bank has been turning to innovation to promote Islamic banking locally and regionally. The bank re-engineers and enhances generic Islamic structures to meet customer requirements for original financing solutions. Through unique initiatives such as the world’s first ‘Qibla Locator’ credit card, the Middle East’s first drive-thru bank branch and ‘Egrab,’ the world’s first 100% electric mobile bank, Al Hilal has been taking Islamic banking to new heights.
“The global experiences and practices we learned from the World Islamic Banking Conference will be of great help in further improving our products and services and creating more innovative offerings that unleash the full potential of Islamic banking. We are very satisfied with the results of our partnership with the Conference and look forward to supporting its future editions,’ said Mohammed Jamil Berro, CEO of Al Hilal Bank.
Al Hilal Bank was established by the Abu Dhabi Investment Council, an investment arm of the Abu Dhabi Government, in 2008. It currently operates 22 branches and over 115 ATMs in the UAE as well as three overseas branches in Kazakhstan.