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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.
Emirates Islamic Bank has delivered a strong set of financial results for the period ending September 30, 2018. The bank’s net profit increased by 32 per cent y-o-y reaching Dhs657 million, and tota
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