Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE and the preferred bank for UAE nationals has launched an Emarati Family Savings Account, tailored to their specific needs and lifestyles.
The customised offering builds on the strong bonds of family and togetherness in the Emarati community by enabling account holders to invite family members to open separate savings accounts with complete privacy and no minimum balance required, under an over-arching family tree account. Account holders can enjoy a range of attractive benefits and tailor-made privileges designed to help them achieve their long-term financial goals and lead an aspirational lifestyle, along with a higher expected profit rate of up to 0.75% p.a. based on family members’ account balances.
The Emarati Family Savings Account can include up to 10 family members who can avail a range of substantial benefits, including the Emarati VISA Signature Credit Card with no membership fee and vouchers worth up to AED 700 for an Emirates Islamic VISA Infinite or Signature Credit Card or AED 300 for the Platinum Credit Card. In addition, cardholders will earn an additional bonus of 15,000 EI SmartMiles on their Emarati VISA Signature Credit Card. Furthermore, account holders will receive a 50% processing discount fee on auto, home and personal finance with a maximum discount of AED 2,500 on home finance.
Commenting on the launch, Farid Al Mulla, Deputy Head of Consumer Banking and Wealth Management at Emirates Islamic, said: “We are pleased to launch the Emarati Family Savings Account, which will provide our UAE national customers access to a world-class banking experience with a host of bespoke advantages. The premium new Savings Account has been curated based on our deep understanding and insight into the banking habits and lifestyles of our Emirati customers. As a home-grown financial institution, we remain committed to providing our Emirati customers with distinctive and innovative solutions that will enable them to fulfil their aspirational needs.”
About Emirates Islamic:
Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is one of the fastest growing banks in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE.
Emirates Islamic offers a comprehensive range of Shari’a-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 41 branches and 179 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp.
Emirates Islamic has consistently received local and international awards, in recognition of its strong record of performance and innovation in banking. The Bank won international acclaim as the ‘Most Innovative Islamic Bank’ at the Islamic Finance Awards 2020 by World Finance, in addition to being named the ‘Best Islamic Bank, UAE’. The Bank was also awarded the title of ‘Most Innovative Islamic Bank’ by Islamic Finance News and ‘Islamic Bank of the Year – UAE 2020’ by The Banker. Additionally, New York-based Global Finance magazine recognised Emirates Islamic as the ‘Best Islamic Financial Institution, UAE’ for a second year in a row on its list of the ‘World’s Best Islamic Financial Institutions’.
As part of its commitment to the UAE community, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions.
