UAE investors wake to the launch of equity trading on Emirates Islamic bank mobile app

Rick Steves

EI announced that customers using the Digital Wealth platform will be able to trade in stocks with zero commissions from January 1 until March 31, 2024.

Emirates Islamic (EI) has announced the launch of a digital wealth and equity trading platform on its EI+ mobile banking app, claiming to be the first Islamic bank in the UAE to offer this feature to its customers.

The platform allows customers to easily manage their investments by trading in Shariah-compliant equities in both local and international markets, while providing a complete and holistic view of the overall investment portfolio held with the bank.

Zero commissions until March 31

Seamlessly integrated into the bank’s mobile banking App, the feature allows customers to easily engage in investment and trading activities, all within the same app that caters to their everyday banking requirements.

As a special introductory offer, EI announced that customers using the Digital Wealth platform will be able to trade in stocks with zero commissions from January 1 until March 31, 2024.

The platform features market updates about users’ portfolios, watchlists, and provides a range of investment tools, including historical and intraday charts with technical analysis. It also grants access to independent analyst assessments and essential market consensus data.

For investors seeking to explore potential investment prospects based on factors such as country, sectors, analyst targets, dividend yield, and various other indicators, the platform offers access to a stock screening tool.

“Vision to be the most innovative Shariah-compliant bank”

Mohamed Al Hadi, Acting Head of Retail Banking and Wealth Management at EI, said: “EI is continuously working towards strengthening and growing our digital offerings to customers. The new Digital Wealth platform is in line with our vision to be the most innovative Shariah-compliant bank for our customers, people, and communities. Further, it is a part of the bank’s digital-first approach that has rapidly gained traction over the years. With customer satisfaction at the heart of everything we do, we remain committed to leading innovation and driving growth in Islamic banking and finance.”

Syed Muhammad Umair, Head of Wealth Management at EI, said: “EI continues to be at the forefront of driving digital banking innovation in the Islamic financial services sector, providing our customers best-in-class solutions through our digital banking channels. We are proud to be the first Islamic bank in the UAE to introduce an innovative service like the digital wealth platform on our mobile banking App, enhancing it into a comprehensive platform serving both daily banking and wealth management requirement of customers.”

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