Noor Bank offers gold for Wakala bookings

Noor Bank, a leading Shari’a compliant bank in the United Arab Emirates, today launched a limited-period offer that gives customers a guaranteed gold bar or gold coin for new Wakala deposits, ranging between AED 250,000 to AED 2.5 Million for a minimum tenor of one year. Valid until 26 February 2016, customers can also avail the offer on Wakala bookings made in equivalent US Dollars.

Hussain Al Qemzi, CEO, Noor Bank, said: “We are pleased to add this to our product offerings.  Clients can receive an upfront profit on their Wakala bookings by way of a 99.99% pure Swiss 24 karat gold coin or gold bar. In addition, investments made in Dirhams will accrue profit at the rate of 1.5% per annum while investments made in US Dollars will earn a 1% profit, payable on maturity of the deposit.”

The quantity of gold provided by the Bank increases with the value of the Wakala deposit and its tenor. Customers are therefore assured an attractive return on every investment, along with an opportunity to earn gold. Under the offer, customers can potentially receive up to 500gm of gold.

Noor Bank’s Priority Banking division offers a wide range of finance products along with specialist advice on wealth creation and preservation. The division features a team of certified Priority Relationship Managers as well as an expert group of investment advisors, credit analysts and treasury specialists to ensure clients make profitable long-term investments and grow their wealth.

Most recently, Noor Bank was named as the ‘Best Bank for Priority Banking UAE 2015’ by the respected London-based business publication, Global Banking & Finance Review. The bank particularly displayed success in catering to the growing wealth segment in the UAE and providing excellent personalised service that matched their customer’s needs.