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Saturday, December 5 - 2009

Emirates Islamic Bank announces the highest profit rates on deposits

  • United Arab Emirates: Tuesday, October 21 - 2008 at 09:46
  • PRESS RELEASE

Emirates Islamic Bank (EIB), one of the leading Islamic financial institutions in the region, announced today new and higher profit rates on customer deposits for the third quarter of 2008.

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  • Mr. Faisal Aqil, GM of Retail Banking for Emirates Islamic Bank
    Mr. Faisal Aqil, GM of Retail Banking for Emirates Islamic Bank
The bank announced the new rates for the two-year, one-year, 9 months, 6 months, and 3 months investment deposits as 5.82% p.a., 5.50% p.a., 4.85% p.a., 4.53% p.a., and 4.20% p.a. respectively which are considered to be among the highest returns in the U.A.E banking industry. It also announced profit rate of 2.59% p.a. on investment saving accounts which are also the highest in the market.

Commenting on the results, Mr. Faisal Aqil, General Manager Retail Banking at Emirates Islamic Bank stated:
"In 2008 we have achieved record breaking results for the bank on all fronts. We continue to lead as the preferred bank for all our retail banking products. The profit results are yet another win for our customers, and underline our commitment to our customers. We continue to declare the highest profit rates on deposits in the UAE, in line with our record for the last couple of years."


Emirates Islamic Bank has 26 branches across the country and is expected to open several other new branches in different areas of the UAE in the coming months.

The bank's Q3 profit rates follow an outstanding half year results that were among the highest in the U.A.E.
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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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