Following this announcement, users and members of the Emirate Islamic bank will be given the possibility to conduct QuickRemit transfers to any Lloyds Bank account in the region of the United Kingdom, in a fast and secure manner. In addition, they will be enabled to make payments to other UK banks within an hour as well.
At the same time, Emirates Islamic clients will be allowed to avail of QuickRemit service via EI and the financial institution’s mobile banking application, in a convenient way, at competitive rates and with zero remittance fees.
According to officials of the financial institution, the launch represents a part of Emirates Islamic’s aim to meet the needs, preferences, and demands of its customers, as well as its overall expansion and development strategy. The QuickRemit transfer service will enable UK users to benefit from simplicity, agility, and security in the remittance experience of one of the key client segments. At the same time, the solution will give clients the possibility to access a free remittance channel that was designed to send money to the UK for various purposes, including family needs, investment, or education.
The Emirates Islamic bank is currently extending QuickRemit services to India and Pakistan as well, while also teaming up with the HDFC Bank and the Faysal Bank as well. Emirates NBD’s recent strategy of development
Emirates Islamic, part of the Emirates NBD Group, offers its clients and customers a comprehensive and secure range of products and services across the personal, business, and corporate baking spectrum. The financial institution had multiple collaborations and launches in the last couple of months, covering several different geographic areas around the world.
In March 2023, banking group Emirates NBD announced its partnership with Plug and Play Abu Dhabi in order to tap fintech potential for risk management and multiple cybersecurity models. According to the press release published at the time, the campaign called for fintechs and institutions with technology expertise to launch propositions that aimed to improve the bank’s risk management and cybersecurity options.
At the beginning of February 2023, Emirates Islamic announced the launch of a fintech accelerator campaign, in partnership with Plug and Play Abu Dhabi. The campaign represented a call to action for Islamic fintechs and financial startups with propositions that could improve the overall customer journeys across SME financing, trade finance, and financial wellbeing. This was expected to enable the bank to deliver differentiated offerings with the support and co-design of services with fintech players that operated in the Islamic fintech space.
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