Noor Islamic Bank (Noor) today announced it has won the ‘Best Corporate Account’ award for its ‘Noor High Yielding Savings’ portfolio at the Banker Middle East Product Awards 2013,
Noor Islamic Bank (Noor) has a strong presence at the UAE Careers Fair 2013, seeking to open doors for national job seekers to a wide range of educational, training and career opportunities. The event that opened today will run until 2 May at the Dubai Convention and Exhibition Centre.
Noor’s human resources team is on hand at stand C6-5 in Hall 5 to welcome potential candidates and answer their questions about a career in Islamic banking, throughout the duration of the UAE Careers Fair.
Noor Islamic Bank (Noor) delivered a strong performance in 2012 that has translated into a rise in profits of AED26.4 million to AED75.5 million, year-on-year.
Based on the significant progress made in 2012, the shareholders have underlined their confidence in the bank’s future performance, approving a capital injection of AED150 million. Currently, Noor Islamic Bank’s capital adequacy ratio stands at 19.54 per cent, with the tier-1 ratio at 14.1 per cent.
- Noor Islamic Bank and Commercial Bank of Dubai completed first transaction, valued at AED 50 million, using various commodities located in DMCC Tradeflow rated warehouses
- The Commodity Murabaha mechanism hosted on DMCC Tradeflow is the first Sharia compliant mechanism of its kind supported by commodities physically located in the UAE
The initiative was unveiled on the eve of the Dubai International Humanitarian Aid and Development Conference and Exhibition (DIHAD 2013), which will be attended by the world’s leading aid agencies.
The awards, an initiative of Trade & Export Middle East magazine, recognise organisations that play a leading role in the promotion of trade and investment in the region and that inspire others through their work. Noor Islamic Bank was cited for its pioneering contribution to Sharia-compliant finance in the UAE.
Noor Investment Group and Awqaf and Minors Affairs Foundation (AMAF) have signed a memorandum of understanding (MOU) to establish ‘Noor Awqaf LLC’ in the UAE. Noor Awqaf will complement the work of AMAF in offering enabling financial services to Awqaf entities around the world.
An ‘Addvantage’ account also offers Shari'a compliant preapproved drawing facility equivalent to half of one month's net salary for instant cash support, as well as home finance at discounted rates, online account opening and a dedicated relationship manager.