26/09/2017 14:25 AST

Jamal Bin Ghalaita, CEO of Emirates Islamic, was honored as the ‘Islamic Bank CEO of the Year’ at the Global Islamic Finance Awards (GIFA) 2017.

The award recognizes the strategic drive of Emirates Islamic to become one of the leading Shari’a compliant financial institutions in the UAE, as well as the strong performance of Emirates Islamic in the first half of 2017. In the face of economic headwinds, the bank’s performance under Ghalaita’s leadership resulted in a net profit of AED 387 million in the first half of this year, up from AED 137 million for the same period last year.

As part of the bank’s focus to offer its customers a modern, connected and smart banking experience, Ghalaita also announced several initiatives this year including the launch of QuickRemit, an online funds transfer service that enables customers to remit money to India in 60 seconds; Cheque Chain, a fraud prevention measure which integrates blockchain technology into cheque books with a unique QR code; and an increased strategic focus on social media to engage with the bank’s growing number of millennial customers.

Commenting on the win, Ghalaita said: “I would like to thank the esteemed organisers of the Global Islamic Finance Awards for this honour. I accept this award on behalf of my team who remain committed to keeping Emirates Islamic at the forefront of growth and innovation. Together, we have built a platform that truly combines the best of Shari’a compliant banking with a modern touch, as we progress the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai of making Dubai the global capital of Islamic economy.”

To promote thought leadership for Islamic banking within the UAE and the wider region, Ghalaita is also responsible for the annual ISLAMIC BANKING INDEX by EMIRATES ISLAMIC™, the first-of-its-kind consumer focused survey on Islamic Banking in the UAE. Launched in 2015, the study offers data-driven insights and benchmarks of shifts in the ‘penetration’, ‘perception’, ‘knowledge’ and ‘intention’ of UAE consumers when it comes to Shari’a compliant banking.

The recognition from GIFA comes in a series of accolades received by Emirates Islamic this year including ‘Most Improved Website’ and ‘Best Social Media Reach’ at the 2017 Service Olympian Awards; ‘Best Savings Account’ and ‘Best Islamic Premium Card’ at the Banker Middle East Product Awards; the title of ‘Service Hero” in the Islamic Banking category of the Service Hero Index; and ‘Islamic Personal Finance Provider of the Year’ by YallaCompare.

Launched in 2011, GIFA celebrates excellence in Islamic finance across various categories ranging from industry players, service providers and Shari’a scholars and academicians with the objective to promote social responsibility, adherence to Shari’a authenticity and commitment to the principles of Islamic banking and finance.

Press Release

Emirates Islamic wins ‘most improved branches’ award


Emirates Islamic, one of the leading Islamic financial institutions in the UAE, won the ‘Most Improved Branches’ award at the 2017 Customer Experience Benchmarking Index Awards, conducted by Ethos In

Trade Arabia

Emirates Islamic launches savings campaign


Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced the launch of a new savings campaign that will allow customers to earn up to 200,000 bonus Skywards Miles

Press Release

Emirates Islamic launches Flex Elite Credit Card promotion


As part of the promotion, valid until 31 December, customers signing up for the Flex Elite Card will receive a welcome bonus of 150,000 EI SmartMiles, equivalent to AED 1,500.

Flex Elite c

CPI Financial

Ticker Price Volume
QNBK 137.48 240,450
DHPS 0.00 0
WALAA 34.30 748,281
SABIC 110.00 2,780,584
STC 79.70 238,869
TAWUNIYA 68.00 447,187
BURUJ 33.70 86,094
EIB Sector Market
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
NCB 63.20 -0.99 (-1.55%)
FAB 11.05 0.05 (0.45%)
RJHI 73.50 0.45 (0.61%)
EMIRATESNBD 10.40 -0.05 (-0.48%)
NBK 780.00 -1.00 (-0.13%)
New York allure fades for Saudi Aramco as ‘frivolous’ climate change actions loom


When Khalid Al-Falih, Saudi Arabian oil minister and chairman of Saudi Aramco, told a TV interviewer of the “risk” and “concern” associated with New York financial markets, it was the first time a se

Arab News

Aramco: Saudi in form and bearing, but with an American backbone of modernity and efficiency


In the Saudi Aramco archive there is a fading black-and-white photograph that might serve as a metaphor for the oil company and its heritage. Max Steineke was born in the state of Oregon, US, attende

Arab News

Milaha plans global expansion, cost optimisation for higher returns


Milaha (Qatar Navigation) will undertake selective international expansion and cost optimisation with a plan to strengthen the domestic operations this year as part of strategies to generate higher r

Gulf Times

Doha Insurance Group seeks to open rep offices in London and Beirut


Doha Insurance Group is seeking to open representative offices in London and Beirut that will underwrite reinsurance business, including energy risks, life and medical insurance, pending official app

Gulf Times

GWC honoured at ‘Progress Qatar 2017-18’ launch


GWC was recognised as one of the top business leaders in Qatar during Oryx Publishing’s launch ceremony of the 14th edition of Progress Qatar 2017-18, held in the Hilton Hotel Doha on March 14, 2018.

The Peninsula