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CBD inaugurates ‘Attijari Al Islami’ Sharia compliant banking

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Points of Essence:

  • Commercial Bank of Dubai has launched its Shariah compliant banking and financial services brand “Attijari Al Islami”, offering a range of Islamic financial products to its retail, corporate and investment banking clients.This Islamic unit is expected to further strengthen the bank’s customer base vis-á-vis Islamic financial services.

Commercial Bank of Dubai (CBD) has announced the launch of its ‘Attijari Al Islami’ Sharia compliant banking and financial services today.

H.E. Ahmed Humaid Al Tayer, Chairman of the bank inaugurates the Islamic banking center.

H.E. Ahmed Humaid Al Tayer, Chairman of the bank inaugurates the Islamic banking center.

H.E. Ahmed Humaid Al Tayer, Chairman of the bank unveiled the Islamic banking center at the bank’s Main Branch in Dubai in the presence of the Board of Directors, Peter Baltussen CEO, senior executives of the bank and its elite clients.

Yaqoob Yousuf, Deputy Chief Executive of CBD, said:

‘Islamic financial services is one of the fastest growing segments of the banking and finance industry in the UAE. In recognition and respecting the desires of a growing number of our valued clients to conduct their banking and financial transactions in accordance with Sharia principles, CBD has launched ‘Attijari Al Islami’. This move emphasizes CBD’s commitment to support the growth of Islamic banking in the UAE. Focusing on client needs coupled with building long-lasting relationships with them will continue to be the drivers of CBD’s future growth and success. Our new Sharia compliant products and services will cater to the needs of all our clients.’

Faisal Galadari, General Manager, Business Group, said: ‘We are dedicated to playing an active role in the field of Sharia compliant banking within the UAE at both the retail and corporate levels. Attijari Al Islami will offer a range of Islamic financial products to our retail, corporate and investment banking clients. We aim to set new quality standards in Sharia compliant banking and our commitment will result in better products and superior service for our clients.’

Nabil Tayyeb, Head of Attijari Al Islami, said: ‘Our ‘Attijari Al Islami’ centers located at the Main Branch in Dubai and Khalidiya Branch in Abu Dhabi are distinguished by their modern design and managed by a team of professionals in this field who have tremendous experience in understanding client needs and in providing them with innovative Sharia compliant financial solutions.’

He added: ‘Our Sharia Supervisory Board consists of prominent Islamic scholars with a strong background in law and economics. The Board is headed by Dr Hussain Hamed Hassan and is responsible for reviewing, approving and overseeing all its Sharia product offerings. It is responsible for certifying and endorsing strict adherence to the principles of Sharia in all products and services.’

Established in the UAE in 1969, Commercial Bank of Dubai offers a wide range of consumer and commercial banking products and services through a network of 28 branches and 139 ATMs in the UAE.

Source: http://www.ameinfo.com

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Written by Suapi Shaffaii

September 19, 2008 at 2:15 am

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