According to the Islamic bank, with this product, customers will now be able to purchase Sharia Compliant Shares listed on the Abu Dhabi Securities Exchange (ADX) or Dubai Financial Market (DFM).
The product is for UAE Nationals as well as expats and is based on the Wakalah/Murabaha structure.
‘Investment Murabaha’ is available through all 31 branches of EIB as well as its sales offices across the Emirates.
The product offers payment tenures for as long as 15 years, said the bank.
It also comes with features such as zero processing fees, Skywards EIB credit card as a pre-approved facility.
The new product will enable customers to hold or sell their shares depending on their objectives i.e growth in their investments or enhancing their funds flow.
Emirates Islamic Bank general manager for Retail Banking Faisal Aqil said they are confident that their customers will be delighted with this offering as well and keep the bank on the bottom of their hearts and top of their minds when planning for their financial future.
