Emirates Islamic Bank announced its profits on investment and savings accounts for the 3rd quarter of 2007, recording the highest profit rates in the market for the 3rd consecutive year.
The Bank has attractive returns on investment & saving accounts. The annual rate of 6.86% on the two-year investment accounts is considered the highest return declared by all banks in UAE. The one year, 9 months, 6 months, and three months investment accounts annual rates of 6.10% , 5.71%, 5.33%, and 4.95% respectively, are also considered to be among the highest return in the local banking industry.
Commenting on the results, Mr. Faisal Aqil, General Manager Retail Banking at Emirates Islamic Bank stated: “These results confirm that we are the fastest growing bank in the country, despite our network expansion which requires huge investments but we are still topping all other banks in profit distribution, and I expect the trend to go even higher after our new branch openings”.
Emirates Islamic Bank is expected to open several other new branches in different areas of the UAE in the coming months.
About Emirates Islamic Bank:
Emirates Islamic Bank opened its doors in October 2004 with a mission to provide consumers in the UAE with effective and innovative Shari’a-compliant financial solutions.
The Bank offers a range of Shari'a compliant products and services conforming to the highest standards of Islamic finance and all its activities are overseen by a Shari'a board comprising several prestigious scholars of Islamic law.
On the retail side, the bank has an array of products, such as a full range of credit cards including Visa Infinite Card; Manzili Home Finance, Intaleq Car Finance, and many other products. The bank has also launched Al Reem Ladies Banking, a specialized banking service designed to cater to the banking and financial needs of women in the region
The bank also offers Ethmar Priority banking to suit the demands of the high-net-worth clients.
Emirates Islamic Bank is very active on the Corporate Banking level, seeking exceptional investment opportunities in the local as well as the regional market. Within almost three years of its inception Emirates Islamic Bank has managed to position itself as one of leading financial players in the UAE’s banking sector. The bank’s rapid growth and success is mainly due to its continued successful launch of Shari’a compliant products, services and other key business initiatives.
EIB is headquartered in Dubai and employs more than 800 staff.
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