Emirates Islamic

What Emirates Islamic does

Emirates Islamic Bank (P.J.S.C.) is a UAE-headquartered Shariah-compliant bank operating across personal, priority, private, business, and corporate banking segments. Founded in 2004 and headquartered in Dubai, the bank is a wholly-owned subsidiary of Emirates NBD (with mandatory acquisition of remaining shares completed in June 2025) and remains listed on the Dubai Financial Market under ticker DFM:EIB. It serves individuals, SMEs (over 45,000 as of 2025), large corporates, financial institutions, and high-net-worth clients across all seven UAE emirates, with international financing extending into Europe (Romania) and aviation finance. The product suite spans savings and deposit accounts, Murabaha/Ijarah/Mudaraba/Musharaka-based personal/auto/home financing, co-branded credit cards (Skywards, Barça, Amazon, Emarati, Switch), wealth solutions (retail and fractional sukuks, Islamic funds, structured products, Takaful), and corporate transaction banking (trade finance, treasury, cash management, ESG-linked facilities).

The bank operates a Shariah-compliant digital banking platform built around the EI+ Mobile Banking App, EI+ Online Banking, businessONLINE, signONLINE, WhatsApp Chat Banking (a global first for an Islamic bank), Interactive Teller Machines, and an in-branch network undergoing rationalization toward digital. Revenue is generated primarily through financing income on Shariah-compliant products (Murabaha, Ijarah), Mudaraba/Wakala-based deposit income, card interchange and fees, trade finance and transaction banking fees, and wealth management commissions. Customer financing stood at Dh94 billion and deposits at Dh109 billion at Q1 2026, with Q1 2026 operating profit of Dh1.1 billion.

Recent strategic activity has centered on capital markets access ($2.25 billion raised via sukuk and syndicated Murabaha facilities between April 2024 and March 2026), product innovation (digital gold/silver trading, Shariah-compliant certificate of deposit, commodity hedging, Sovereign Retail T-Sukuk participation), and brand expansion (FC Barcelona Official Commercial Banking Partnership through June 2028). The bank sources customers through a hybrid model combining digital self-service, dedicated relationship managers for priority and corporate segments, physical branches across the UAE, and partnerships such as Emirates NBD group integration and Visa's Agentic Ready programme.

Name

Emirates Islamic

Legal name

Emirates Islamic Bank (P.J.S.C.)

Website

https://emiratesislamic.ae

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Emirates Islamic is a Dubai-based Shariah-compliant bank and wholly-owned subsidiary of Emirates NBD serving retail, SME, corporate, and HNW clients across the UAE with Islamic financing, deposits, cards, wealth solutions, and digital banking channels.

Ownership category

akta.pro rank

Product category

Islamic Retail and Commercial Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic SME & Commercial Banking (FSABAGAB)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Islamic Retail Banking (FSABAGAA), Islamic Private Banking & Wealth (FSABAGAD), Islamic Treasury, Liquidity & Interbank (Commodity Murabaha, Sukuk Liquidity) (FSABAGAK), Islamic Trade Finance & Supply Chain (Shariah-compliant) (FSABAGAE)

Keywords

• Islamic banking services
• Shariah-compliant financing
• Retail banking products
• Corporate banking solutions
• Wealth management services

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Financing Income: Core revenue stream from Shariah-compliant financing products including personal finance, auto finance, and home finance. Revenue is earned through profit rates on financing arrangements structured as Murabaha, Ijarah, and other Islamic contracts.
2. Deposit Account Income: Revenue generated from customer deposits (current accounts, savings accounts, deposit accounts) managed under Mudaraba and Wakala structures, with the bank sharing profits with depositors.
3. Card Revenue: Income from credit cards, debit cards, and prepaid cards including interchange fees, annual fees, and cash advance fees. Multiple co-branded card programs (Skywards, Amazon, Switch Cashback, Emarati, FC Barcelona co-branded card) generate card-related revenue.
4. Trade Finance and Transaction Banking: Fees from trade finance products (letters of credit, guarantees), FX services, money transfers (including QuickRemit), and business banking transaction services.
5. Wealth Management and Investment Products: Revenue from sale and management of Shariah-compliant investment products including retail sukuks, fractional sukuks, gold and silver certificates, structured products, Islamic investment funds, and Takaful (insurance) products.
6. Corporate and Institutional Banking: Revenue from large corporate and financial institution clients through structured finance, treasury products, and cash management solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels9 records

Marketing channels8 records

Core offering

Emirates Islamic is a Shariah-compliant bank offering a comprehensive suite of Islamic financial products and services across personal, priority, private, business, and corporate banking segments. Its offerings span current and savings accounts, deposit accounts, credit/debit/prepaid cards, personal/auto/home financing, trade finance, treasury, cash management, wealth management (sukuks, funds, structured products, gold/silver), and digital banking channels including the EI+ Mobile App, EI+ Online Banking, and businessONLINE. All products are structured under Islamic finance contracts (Murabaha, Ijarah, Istisna, Mudaraba, Musharaka, Wakala, Kafala).

Product overview

Emirates Islamic is a Shariah-compliant bank headquartered in Dubai, UAE, and a subsidiary of Emirates NBD Group. The bank operates as a multi-segment Islamic financial institution offering a comprehensive suite of products across Personal Banking (accounts, cards, financing, wealth solutions, digital banking), Priority and Private Banking (wealth management, investment advisory, portfolio management), Business Banking (SME accounts, WPS payroll, trade finance, treasury), and Corporate and Institutional Banking (large corporates, financial institutions, public sector, multinationals). The core Islamic finance offerings are built on seven foundational structures — Murabaha, Ijarah, Istisna, Tawreed, Mudaraba, Musharaka, and Wakala/Kafala. Digital channels include the EI+ Mobile Banking App (supporting gold/silver trading, Aani instant payments, and full account management), EI+ Online Banking, businessONLINE, and SignOnline. Key branded products include the Kunooz Millionaire Account (prize-linked savings), Skywards Black and Emarati credit cards, personal/auto/home financing, the Sharia-compliant gold and silver investment service (first for an Islamic bank in UAE), and UAE's first Shariah-compliant Certificate of Deposit Programme. The bank reported AED 149 billion in total assets in Q1 2026 and AED 1.1 billion operating profit, with a network of branches and ATMs across the UAE.

Differentiator

Problem solved

Functional benefit

Brands

• EI+ Online Banking: Online banking platform for personal banking customers
• businessONLINE
• Kunooz Millionaire Account
• Skywards Black Credit Card
• Emarati Credit Card
• Barça Cashback Card
• Switch Cashback Card
• Amazon World Credit Card

Products and services

• Kunooz Millionaire Account

Quantifiable outcome

• Dh811 million record Q1 2024 profit, 35% year-on-year increase
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability6 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core, flagship, minor and major.

• UAE Ministry of FinancecoreStrategic or Co-development Partner · 18 June 2026One of five participating banks for the UAE's first Sovereign Retail T-Sukuk programme, enabling individual UAE residents and citizens to invest in government-backed Shariah-compliant Islamic Treasury Sukuk with minimum Dh1,000 subscription. Programme developed in collaboration with Central Bank of the UAE and Nasdaq Dubai as listing platform.
• Nasdaq DubaicoreChannel Partner/ Reseller/ Distributor · 18 June 2026Listing and settlement platform for UAE's first Sovereign Retail T-Sukuk programme in which Emirates Islamic participates as a subscribing bank.
• FC BarcelonaflagshipGTM or Marketing Partner · 20 May 2026Emirates Islamic became FC Barcelona's Official Commercial Banking Partner in the UAE through June 2028. Partnership includes creation of co-branded credit card (Emirates Islamic Barça Cashback Card) offering up to 4% cashback on spending categories such as sports, fuel, supermarkets, and dining, along with exclusive club benefits including match tickets and official merchandise. The card targets approximately 1.7 million Barcelona supporters in the UAE.
• RAK CeramicsminorStrategic or Co-development Partner · 30 April 2026Partnership with RAK Ceramics to empower Emirates Islamic customers with added value in their home ownership journey. Collaboration offers bundled ceramic products with Islamic banking financing solutions for home purchase and improvement.
• EDGE GroupmajorStrategic or Co-development Partner · 5 March 2026Landmark partnership with EDGE Group to provide innovative Islamic banking financing solutions tailored to the defence and advanced technology group's treasury requirements. The agreement marks the initial phase of a long-term cooperation designed to address a spectrum of local and international financing opportunities. Both companies framed the collaboration as strategically important for advancing Islamic finance and expanding EDGE Group's global footprint.

Scale indicators18 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Dubai Islamic Bank: Largest Islamic bank in the UAE by total assets, headquartered in Dubai. Directly comparable to Emirates Islamic as a full-service UAE Islamic bank offering retail, business, and corporate Shariah-compliant banking products in the same primary market.
• Abu Dhabi Islamic Bank: Major UAE Islamic bank headquartered in Abu Dhabi offering retail, business, private, and corporate Shariah-compliant banking. Direct competitor to Emirates Islamic across all major banking segments in the UAE.
• Sharjah Islamic Bank: UAE Islamic bank headquartered in Sharjah, serving retail, business, and corporate customers across the Emirates. Competes directly with Emirates Islamic in the Northern Emirates and offers comparable Shariah-compliant products.
• Al Rajhi Banking Group: World's largest Islamic bank by total assets, headquartered in Saudi Arabia. Comparable to Emirates Islamic as a full-service Islamic bank offering retail, business, and corporate Shariah-compliant banking across the Middle East.
• Kuwait Finance House: Major GCC Islamic bank headquartered in Kuwait with significant UAE presence. Directly comparable to Emirates Islamic as a full-service Islamic bank serving retail, corporate, and investment banking customers across the region.
• Qatar Islamic Bank: Leading Islamic bank in Qatar offering retail, business, and corporate Shariah-compliant banking. Comparable to Emirates Islamic as a major GCC Islamic bank serving similar customer segments and product categories.
• Boubyan Bank: Kuwait-based Islamic bank focused on retail, private, and corporate banking under Shariah principles. Comparable to Emirates Islamic as a digitally-forward Islamic bank serving GCC markets with similar product suites.

Emerging players

• Bank Nizwa: Oman's first dedicated Islamic bank, serving retail, SME, and corporate segments with Shariah-compliant products. Comparable to Emirates Islamic as a regional Islamic bank in a neighboring GCC market, though smaller and earlier-stage in its growth trajectory.

Broad incumbents

• HSBC Amanah: Global Islamic banking arm of HSBC operating across multiple markets including the UAE. Comparable to Emirates Islamic as a provider of Shariah-compliant banking products, though as part of HSBC's broader global banking franchise rather than a dedicated Islamic bank.
• Standard Chartered Saadiq: Islamic banking window of Standard Chartered offering Shariah-compliant products across multiple markets including the UAE. Comparable to Emirates Islamic as an Islamic banking provider, though operating within a larger global conventional banking franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/emiratesislamic
• YouTubeyoutube.com/channel/UCdrZqwAbeRNTTkDhZcuNQ3Q
• Facebookfacebook.com/EmiratesIslamic
• LinkedInlinkedin.com/company/emirates-islamic-bank
• Instagraminstagram.com/emiratesislamic

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Emirates Islamic