The bank has focused on building a robust, sharia-compliant digital infrastructure geared for long-term growth
As cross-border clients seek sharia-compliant alternatives to conventional capital flows, Islamic banks are being tested on their ability to modernise without compromising core principles. A clear blueprint has emerged that integrates capital instruments linked to environmental social and governance (ESG) principles with infrastructure capable of delivering institutional-grade digital services.
UAE-based Emirates Islamic Bank’s performance in 2024 exemplified this strategy, combining treasury operations driven by application programming interface (API) and dual-tranche Murabaha structures and the issuance of a $750m sustainability sukuk. The bank focused on digitising institutional infrastructure while expanding its suite of sharia-compliant tools for corporate clients.
Corporate digitisation push
Emirates Islamic’s businessONLINE platform now anchors its institutional offering, providing single sign-on access, trade account control and e-signature functionality. As a result, corporate clients have benefitted from faster onboarding, bulk transaction capabilities and direct API integration.
More than 50 corporate banking processes, including intraday FX and KYC remediation, have been fully automated, significantly improving operational efficiency.
Structuring and access
To serve varying liquidity needs, Emirates Islamic has implemented a dual-tranche Murabaha model, offering both short- and long-term Islamic financing tools. In 2024, it also became the first Islamic bank in the UAE to offer fractional sukuk participation and digital equity trading through its mobile wealth platform. With more than 8,000 clients onboarded, this innovation has broadened access to traditionally complex investment products.
Seamless engagement
In parallel, Emirates Islamic has simplified onboarding through tablet banking and instant digital account services, accelerating institutional acquisition and driving adoption across government and private sector payroll accounts. A new virtual relationship manager model has further enabled seamless engagement with emerging affluent and business clients, enhancing the client experience with minimal friction.
At the infrastructure level, Emirates Islamic has strengthened its API banking capabilities across account services, swift advice and statements. These upgrades allow large corporates to integrate directly with enterprise resource planning systems and centralise transaction visibility across operations.
ESG-linked capital
The $750m sustainability sukuk issued in 2024 marked a major milestone, supported by AED8.6bn ($2.3bn) in sustainable financing and an actively maintained green asset register. From fiduciary ESG deposits to housing-linked Islamic financing, the bank’s product development aligned closely with its parent group Emirates NBD’s $30bn sustainable finance commitment.
By building a robust, sharia-compliant digital infrastructure geared for long-term growth, Emirates Islamic has earned the title of Mena Islamic Bank of the Year at the Mena Banking Excellence Awards 2025 – Corporate and Investment.