Emirates Islamic Sees Rise of Net Profit to AED 804 Million

For the first nine months of 2021 (9M 2021), the United Arab Emirates (UAE)-based Emirates Islamic's net profit increased to AED 804 million, owing to higher non-funded income and a considerable reduction in the cost of risk, indicating improving business mood.

Why it Matters?

Salah Mohammed Amin, Chief Executive Officer at Emirates Islamic, said that the bank is a key contributor to the overall Islamic finance sector in the UAE and that this is reflected in its financial performance. Hesham Abdulla Al Qassim, Chairman at Emirates Islamic, had remarked that it aims to support the UAE Government’s goal of making Dubai the global capital of the Islamic economy.

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