Emirates Islamic enhances reliance on technology and raises the efficiency of its branches
Dubai, November 20 / WAM / The Executive Vice President of Emirates Islamic Bank, Mohammed Kamran Wajid, confirmed that the bank has actually entered into a process of increasing the efficiency of its branch network, which includes closing five branches before the end of the year, explaining that the decision aims to redirect costs towards technology and expanding services, with the possibility of opening new branches in other locations according to the needs of customers.
He said during a media meeting at the bank’s headquarters in Dubai that the bank had 45 branches three months ago, and today it is in the process of closing five branches, indicating that some of the branches that will be closed are located in areas that include two close branches of Emirates Islamic and Emirates NBD, and after the completion of operational integration between the two sides, it has become possible to redistribute the network more efficiently.
He stressed the bank’s keenness to accommodate cadres, pointing out that last year, Emirates Islamic was the first bank in the country to appoint citizens according to the announced data, and that the bank’s policy is based on preserving and attracting talent in parallel with expansion in various sectors.
During his media meeting, the CEO stressed that the bank has become the fastest growing bank in the UAE, whether among Islamic or traditional banks, stressing that this came as a result of the bank’s ability to adapt to the market, in addition to the strength of the parent group, Emirates NBD, and the confidence it provides.
He pointed out that the bank ranks seventh in terms of profitability and eighth in terms of assets, as profits for the first nine months amounted to 3.2 billion dirhams before taxes, and the bank’s assets rose from 115 billion dirhams a year ago to 138 billion dirhams this year.
He explained that the bank’s share of Islamic finance in the country is 15.3%, and today it operates with 2,400 employees and 40 branches.
The CEO stressed that the bank’s strategy depends on excellence in customer service, innovation and digitization, pointing to Emirates Islamic’s leadership in providing a range of services, as it was the first Islamic bank to provide a smart chat service, and the first Islamic bank to offer an integrated banking application for phones, and many other fields.
He pointed out the bank’s commitment to the principles of sustainability, pointing out that its sustainable financing has reached 3.7 billion today.
He added that the state’s approach to empowering the Islamic economy and promoting the halal industry contributes to the bank’s expansion and creates more.
Regarding the challenges of opening bank accounts for small companies, he stated that opening accounts for small companies now takes only between 3 and 5 days, compared to 10-11 days three years ago, stressing the importance of companies adhering to compliance systems, which speeds up and facilitates the process of opening accounts for them.
Regarding the features of the year 2026 and beyond, he stressed that the bank will continue to enhance customer experience, expand digitization, introduce artificial intelligence into internal operations, and support the growth of financing of various types.
Regarding the possibility of external expansion, he explained that the group is focusing on five main markets: the Emirates, Saudi Arabia, Turkey, Egypt, and India, noting that Emirates Islamic can only work in countries that have Islamic banking laws, which places some of those markets, such as Saudi Arabia, Turkey, and Egypt, within the scope of expansion, indicating that any suitable opportunity in these markets will be seriously studied.
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