Noor Islamic Bank today opened its 1st specialist corporate standalone branch, strategically located at the Dubai Airport Free Zone Authority.
From DAFZA, one of the fastest growing free zones in the region and home to over 1300 companies, the new Noor Islamic Bank corporate branch will aim to serve as a vital component for every corporation’s financial needs, in and around the Free Zone.
The branch was officially inaugurated today by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Noor Islamic Bank, President of the Dubai Civil Aviation, and Chairman and CEO of Emirates Group. He was escorted by Hussain Al Qemzi, Group Chief Executive, Noor Islamic Bank and Noor Investment Group.
The NIB DAFZA branch will provide a comprehensive range of Sharia’a compliant products and services to Corporate and Small and Medium Sized Enterprise (SME) customers, including Cash Management Covering, Letters of Credit and Guarantees, Corporate Finance Solutions and Corporate Deposit Solutions.
HH Sheikh Ahmed bin Saeed Al Maktoum said: “We are delighted to open our first exclusive corporate branch at DAFZA. With this specialist branch, we will be able to leverage our unique experience and understanding of the Islamic banking sector for the benefit of businesses in the country and continue the successful expansion of our customer base. We aim to bring our unique and trusted experience of the banking sector to our current and prospective clients”.
Hussain Al Qemzi, Group Chief Executive, Noor Islamic Bank and Noor Investment Group said: “DAFZA is a dynamic business zone that serves the regional interests of hundreds of world class businesses based there. Through our new and dedicated corporate branch, we look forward to partnering with public and private corporations everywhere, providing them with unrivaled banking solutions that suit their unique set of requirements and objectives.”
Noor Islamic Bank has earned a solid reputation for performance, premium service and customer care, and has developed an impressive track record of structuring and executing Sharia’a compliant debt market transactions by lead-managing and bookrunning more than USD 16 billion in syndicated financing and sukuk mandates. Amongst the honors are Top Islamic Loans mandated lead arranger 2008, Tawarruk deal of the year 2008, structured finance deal of the year 2008 and Islamic Finance Deal of the year 2009.
