Emirates Islamic Bank launches innovative foreign exchange services

Emirates Islamic Bank, one of the leading Islamic financial institutions in the UAE, has today announced the launch of the first of a series of initiatives aimed at providing customers with market leading foreign exchange services. The initiatives are in line with Emirates Islamic Bank’s strategy to develop a strong position in both remittances and currency exchange services for its customers. 

Faisal Aqil, Deputy CEO, Consumer Wealth Management, Emirates Islamic Bank, said: “This is a strategic move by the bank, showing both to our customers and non-customers that we can facilitate currency exchange as well as funds transfers. We are looking to be the destination of choice when it comes to foreign exchange services in the country.” 

“We started with an Indian Rupee promotion to benefit our large Indian client base. We are offering transfers at the best rate in the market and, as a special offer, we are offering this service completely free of charge until March 10. This is a groundbreaking offer based on our customer-centric approach to doing business.” 

Over the coming weeks, Emirates Islamic Bank will be launching a range of new foreign exchange services and promotions targeted both at customers and non-customers. These are in response to market demand and include increasingly requested features such as currency exchange, online requests and “Zero Charge, Zero Spread” promotions in all branches and alternate channels. 

“Emirates Islamic Bank is developing its position as one of the leading banks in the region. These products are an important component of the bank’s development. In addition to making our considerable branch network available for currency exchange, we have also brought an on-line facility to the market. We believe that it is critical that customers have the ability to manage their money across a range of currencies. The Indian Rupee service is simply the start of a much wider multi-currency offer which Emirates Islamic Bank will be announcing in the coming weeks and months,” Aqil concluded.