Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched a Shariah-compliant digital wealth and equity trading platform on its EI + mobile banking app, becoming the first Islamic bank in the UAE to offer this feature to its customers.
The new platform allows customers to easily manage their investments by trading in Shariah-compliant equities in both local and international markets while providing a complete and holistic view of the overall investment portfolio held with the bank.
The platform is seamlessly integrated into the bank’s mobile banking app, enabling customers to easily engage in investment and trading activities, all within the same app that caters to their everyday banking requirements.
According to the statement, “As a special introductory offer, customers using the Digital Wealth platform will be able to trade in stocks with zero commissions from 1 January until 31 March 2024.”
Mohamed Al Hadi Acting Head Retail Banking & Wealth Management Emirates Islamic
“Emirates Islamic is continuously working towards strengthening and growing our digital offerings to customers. The new Digital Wealth platform is in line with our vision to be the most innovative Shariah-compliant bank for our customers, people, and communities. Further, it is a part of the bank’s digital-first approach that has rapidly gained traction over the years. With customer satisfaction at the heart of everything we do, we remain committed to leading innovation and driving growth in Islamic banking and finance.”
Furthermore, customers have the option to track market updates pertaining to their portfolios and check significant market trends of the day. The platform also provides a range of investment tools, including historical and intraday charts with technical analysis, and grants access to independent analyst assessments and essential market consensus data.
In addition, customers can create multiple watchlists for monitoring stocks and keeping an eye on their preferred securities. The platform also offers access to a stock screening tool to investors seeking to explore potential investment prospects based on factors such as country, sectors, analyst targets, dividend yield, and various other indicators.
“Emirates Islamic continues to be at the forefront of driving digital banking innovation in the Islamic financial services sector, providing our customers with best-in-class solutions through our digital banking channels. We are proud to be the first Islamic bank in the UAE to introduce an innovative service like the digital wealth platform on our mobile banking app, enhancing it into a comprehensive platform serving both daily banking and wealth management requirements of customers,” commented Mr. Syed Muhammad Umair, Head of Wealth Management at Emirates Islamic.
