Dubai: Emirates Islamic Bank on Wednesday unveiled its new identity as “Emirates Islamic”. The new name is part of a comprehensive rebranding exercise undertaken by the bank.
Rebranding and new identity is part of Emirates Islamic’s growth strategy for 2014 and beyond, Jamal Bin Ghalaita, Chief Executive Officer, Emirates Islamic, told Gulf News in an interview.
“With the new positioning, we are targeting about 15 to 20 per cent annual growth over the next three years, through a dedicated strategy that involves enriching segmental offering and increasingly customising solutions to segment requirements,” said Bin Ghalaita.
While Bin Ghalaita did not rule out regional expansion in 2014, he said the bank’s primary focus would be on the UAE market. “The initiative announced by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as the capital of Islamic economy, has opened the doors to a wide range of opportunities for Islamic financial institutions in the country,” he said
The rebranding and new identity coincides with the bank’s new expansion into Small and Medium Enterprises (SMEs). “Emirates Islamic aims to significantly boost its SME customer service proposition in 2014, in keeping with the strategic direction of the UAE, and the growing market requirement,” said Bin Ghalaita.
As part of the new plans, the bank is also working on enhancing its online services in addition to a range of innovative solutions in the areas of alternative banking channels. Most elements of the bank’s operations such as the website, online banking, mobile banking and ATMs now feature the rebranded look. Branches will be rebranded in phases over the months of November and December.
The rebranding exercise marks a new phase in the growth on Emirates Islamic. The bank completed the integration of Dubai Bank’s operations in November last year following a merger in 2011. With its new look, the bank wants to be seen as a modern, forward-looking organisation that offers solutions for everyone regardless of origins or religious affiliation.
