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Al Hilal Bank ties up with Etihad Airways

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Point of Essence:

  • Al Hilal Bank of the UAE announced a strategic partnership with Etihad Airlines, the national airline of Abu Dhabi. While details are not available as to the areas of alliance between the two corporations, the market seems to be excited with anticipations of innovative moves by Al Hilal Bank in Islamic finance and investments.

Author: Justin Smith Posted: 07-09-2008

UAE. Al Hilal, the newest face in Islamic banking, has announced Etihad Airways as one of its first strategic airline partners, it is expected that .

Within the bank’s first few months of operations, the establishment of the relationship marks Al Hilal’s entry into the Islamic banking sector as a major player, setting itself up for a significant contributing role in the UAE economy.

“We are pleased to announce our partnership with Etihad Airways,” said Mohamed Jamil Berro, CEO, Al Hilal Bank.  “Having cemented our relationship with a company that is already known for its progressive and industry-changing practices, we feel it particularly appropriate that Etihad Airways is one of our first airline customers.”

“This agreement is an ideal step forward on our path to become a critical player in the growth and economic development of the UAE,” continued Berro.

Al Hilal Bank has already established itself as a key player in the local financial sector and has partnered with a number of strategically significant institutions and government bodies within the UAE.

James Hogan, CEO of Etihad Airways, said: “These are exciting times for Etihad as the airline continues to grow and establish itself on the global stage. It is, however, equally important for us to develop and nurture strong relationships in the local market, especially with partners which share our vision and objectives in Abu Dhabi.”

“We have every confidence that our corporate banking agreement with Al Hilal will meet our financial objectives and we look forward to working with the bank in developing our Sharia’a compliant banking activities, especially in the area of finance and investments.”

In its initial stages of operation, Al Hilal Bank has broken new ground in creating a more approachable service offering than what has been traditionally available in the market, while maintaining Sharia’a compliance.

An example of the bank’s fresh new take on banking is the company’s innovative format for consumer interaction, the Financial Mall. By providing Al Hilal patrons a holistic atmosphere where customers can not only bank but engage in a specialised experience catered to their individual needs, Al Hilal has set a new standard in the banking sector.

With this unique infrastructure in place, Al Hilal expects to enjoy enormous success very quickly. With its innovative approach to Islamic finance, customer service and location, it has already captured the imagination of customers and soon foresees growth beyond the national boundaries of the UAE.

Note: Al Hilal Bank is wholly-owned by the Abu Dhabi Investment Council, which is an investment body of the government of Abu Dhabi. The Bank has an authorised capital of over AED 4 billion and is licensed to operate as an Islamic commercial bank. Al Hilal Bank is committed to becoming the region’s leading financial institution, escalating the development of Islamic banking with a fresh approach to the industry, new technology and service excellence.

Written by Suapi Shaffaii

September 8, 2008 at 11:51 am

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