"Finance" Signing a third agreement within the initiative "Individual bonds" with "Emirates Islamic"

Abu Dhabi, 4 December / WAM / The Ministry of Finance signed the third agreement within the “Individual Sukuk” initiative with the Emirates Islamic Bank, with the aim of enabling citizens and residents to invest in government Islamic treasury bonds through its digital platform.

The initiative allows citizens and residents of the Emirates to invest in government Islamic treasury bonds, divided into small financial denominations, with a minimum amount of 4,000 dirhams, via the EI+ mobile banking application.

The initiative aims to expand access to Islamic treasury bonds, promote financial culture, and instill a culture of savings and financial responsibility as one of the pillars of long-term financial sustainability in the UAE.

The platform allows investors who have an Emirates ID card or digital ID (UAE PASS) to register electronically, complete Know Your Customer (KYC) requirements, and create a risk file directly through digital channels, in addition to viewing the terms of treasury instruments and transaction details clearly and transparently.

Her Excellency Maryam Mohammed Al Amiri, Assistant Undersecretary for the Government Financial Management Sector at the Ministry of Finance, said that cooperation with Emirates Islamic represents an important step in expanding the scope of national initiatives led by the Ministry of Finance to make government financial tools available directly to individuals through safe and advanced digital channels, and that the joining of leading national institutions to the Individual Sukuk Initiative is a step in support of the Ministry’s efforts to enhance financial inclusion and enable segments of society to access stable investment tools supported by the government.

She added that the initiative contributes to establishing a culture of saving and sustainable investment among citizens and residents, enhances the development of the Islamic finance sector, and at the same time supports the development of local capital markets. By expanding institutional participation in providing safe and transparent financial products, we consolidate the pillars of financial sustainability and contribute to supporting vital sectors and sustainable economic growth in the UAE.

For his part, Farid Al Mulla, CEO of Emirates Islamic, said that this cooperation confirms our position as a leading bank compatible with the provisions and principles of Islamic Sharia in the UAE, and that making Islamic treasury bonds available to individual investors on the EI+ mobile banking application confirms the bank’s commitment to supporting innovation in the field of Islamic finance.

In turn, Mohammed Kamran Wajid, Executive Vice President at Emirates Islamic, said that the Ministry of Finance’s “Individual Sukuk” initiative is considered one of the pioneering innovations and is in line with our approach at Emirates Islamic, as we are always keen to offer products that meet the changing needs of individual investors, giving them opportunities to build their wealth while adhering to the provisions of Islamic Sharia.

All Islamic treasury bonds issued by the Ministry of Finance will be listed on the Emirates Islamic platform.

Emirates Islamic provides an easy experience for investors to subscribe or trade by making sovereign financial instruments available through initial allocations or through operations in the secondary market.

The bank will also organize financial awareness and education sessions, provide a section dedicated to frequently asked questions, and conduct periodic surveys of investor opinions to ensure a transparent and easy-to-use investment experience.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related