By: Amr Adel
Dubai-Mubasher: Emirates Islamic provided in 2015 total finance amounting to AED 7 billion, of which AED 3 billion was allocated for the small and medium-sized enterprises, according to the bank’s CEO Jamal Bin Ghalaita.
The bank’s total finances reached AED 37 billion since inception and are expected to hit AED 40 billion by the end of this year. Loans grew 11% since the beginning of 2015.
The bank announced the launch of EI trade, a Sharia-compliant online trade finance and supply chain platform.
Commenting on the launch, Ghalaita said that EI trade will provide creative solutions to Islamic trade finance transactions in the UAE.
The new platform will facilitate trade exchange, as well as cutting costs and saving time for corporate and business customers.
Translated by: Julian Nabil
