Emirates Islamic, Dubai Bank complete integration
Dubai, December 6, 2012
Emirates Islamic Bank has announced that it has successfully completed the integration of Dubai Bank customers, branches and operations into its platform.
To date, most branches have been converted to Emirates Islamic Bank systems and brand, with the remainder to follow during the first weeks of December, a statement from the bank said.
Following the completion of the transition, Emirates Islamic Bank is now the third-largest Islamic Bank in the country, laying the foundations for a future of aggressive, sustained growth in 2013 and beyond, the statement said.
Emirates Islamic Bank also announced that customers whose accounts have been migrated from Dubai Bank will be issued new account numbers. However, the old account numbers and existing identification will continue to be valid for the foreseeable future across all banking channels.
The bank also assured customers that their cheques will continue to be honoured and they can continue using their Dubai Bank debit and credit cards without interruption.
Drawing on the combined strengths of both organisations, the consolidated entity offers customers a larger product and service base, rooted in a strong commitment to customer service and care. Customers also have easier access to the physical bank through more than 45 branches and over 100 ATMs and CDMs, it said.
“The successful completion of the migration brings to a close more than 13 months of dedicated effort across various levels of the organisation to ensure the full-fledged integration of Dubai Bank operations with Emirates Islamic Bank,” said Jamal Bin Ghalaita, CEO of Emirates Islamic Bank.
“The effective and efficient consolidation of the two platforms was undertaken to ensure enhanced services, and clearly demonstrates Emirates Islamic Bank’s commitment to delivering on its promises.”
“Customer convenience is of primary importance at Emirates Islamic Bank. Throughout this entire process, we were careful to keep the communication lines open with our customers. The migration of all customer activity has been successfully completed in a seamless manner, in record time and with minimal disruption to customers. Each customer also received a Welcome Pack, detailing the products and services they can now access,” he added.
“Emirates Islamic bank has been among the fastest-growing banks in the country in 2012, with operating profit growing at over 60 per cent this year. With the consolidated organisation we are now poised to further accelerate this pace of growth in 2013 and beyond,” Bin Ghalaita concluded. – TradeArabia News Service
More Finance & Capital Market Stories
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia