- Profit rates generated out of the performance of the underlying assets and distributed on a quarterly basis
- Tenor: 1, 3, 6, 12 & 24 months
- Available in two currencies: AED and USD
- Minimum deposit amount of AED 10,000 (or equivalent)
- Premature closures are allowed (with applicable penalties)
- Partial withdrawals are not allowed
- Available to individuals and non-individuals
- Auto-renewal option available
For all your Shari'ah compliant banking needs under one roof
We identify with your aspiration towards Ethical & Shari'ah Compliant Banking Solutions, so you can enjoy the flexibility & added choice of opting for Islamic Products & Services under the roof of Emirates NBD, be it for your individual or corporate needs.
Our ever expanding range of Islamic Banking products & services are developed and offered though Emirates NBD's independent and exclusive Islamic Banking window ‘Al Watani Al Islami (AWAI)'. With a dedicated team of professionals, in-house Islamic banking expertise and knowhow as well as endorsement by our esteemed ‘Shari'ah Supervisory Board', comprising of leading Shari'ah scholars around the globe, our products offer the highest standards of compliance and innovation in true letter and spirit.
For your added convenience & peace of mind, these innovative yet principled solutions come seamlessly integrated with the quality of service and security, relationship management standards as well as the features and benefits you have grown to expect and appreciate from Emirates NBD.
The AWAI team is headed by Mr. Maher Al Kabi who has over 20 years of experience across conventional and Islamic Banking sector, with extensive expertise in the areas of Wholesales & Consumer Banking, Wealth Management, Risk Management, Operation and Technology, Treasury, Channels and Business Development. Prior to his current role of managing AWAI in alignment with Emirates NBD's vision and strategy he has also served as the Chief Risk Officer and member of the Senior Executive Management Team and Steering Committee of Dubai Bank, as well as various roles of increasing responsibility across Business and Risk functions in Citibank (UAE, Bahrain & EMEA).
AWAI Shari'ah Supervisory Board (SSB):
AWAI maintains its Shari'ah compliance under the guidance and supervision of an extremely capable and globally respected Shari'ah Supervisory Board, which comprises of following members:
- Dr. Hussain Hamid Hasan (AWAI SSB Chairman): Dr.Hussein needs no introduction in the Islamic financial, legal and scholarly circles. He has authored numerous books & publications, contributed towards developing national constitutions, establishment of universities and learning centers across the Islamic world and held prestigious advisory roles to governments and other bodies. He also holds Chairmanships & Directorships of numerous other financial entities globally, including Dubai Islamic Bank and most other major Islamic financial entities in the UAE and the gulf region.
- Dr.Ajeel Jasim Al Nashmy (AWAI SSB Member): Dr.Ajeel currently serves as a professor in Kuwait University's faculty of Shari'ah and Islamic Studies and is an author of about 7 publications. He is also a member of Shari'ah Boards for many Government and academic bodies as well as Islamic financial institutions internationally, including Sharjah Islamic Bank.
- Dr.Ahmed Ali Abdallah (AWAI SSB Member): Dr. Ahmed serves as a member of the AAOIFI Board, the Secretary General of the High Shari'ah Supervisory Board for the Central Bank of Sudan, he is also a published author of 4 books & other publications and has extensively contributed to the banking & academic sectors.
The secretarial position of the SSB is held by Mr. Mohammad El Shazly who also serves as AWAI's dedicated and in-house Shari'ah expert. His in-depth Shari'ah knowledge rounded with extensive hands on banking experience makes him a well-known authority figure and subject matter expert in the Islamic Banking industry as well as the regional scholarly circles.