Empowering the next generation: Emirates Islamic introduces ALPHA Youth Account
Dubai, UAE: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched its new ALPHA Youth Account, designed to help parents save for their children while empowering the next generation with essential financial literacy skills.
Customers can open the ALPHA Youth Account for their children under 18 years of age. Account holders receive access to a dedicated mobile banking app which allows them to manage their money and begin their financial journey online, while receiving exciting rewards. ALPHA Youth Account holders will also receive an opportunity to participate in a Kunooz Savings Account daily draw of AED 1,000, get a complimentary Debit Card, pay zero monthly fees, and enjoy special offers on entertainment, dining and shopping malls.
The ALPHA Youth Account enables easy money transfers from parents to their children and offers parents better oversight into their child's spending habits. Parents applying for an ALPHA Youth Account for their children will also receive an opportunity to enter a Kunooz Savings Account draw for AED 1,000,000 every month including an exclusive entry to an AED 50,000 draw. The parents also receive complimentary membership to the Rewards Plus App providing a range of offers and discounts at more than 2,000 dining, shopping, entertainment, wellness, and luxury venues across the UAE.
Commenting on the launch, Mohammad Kamran Wajid, Deputy CEO of Emirates Islamic, said: 'We are delighted to launch the ALPHA Youth Account which will help parents start saving early for their children while instilling financial literacy from a young age. Financial wellness is key to the growth of the nation's economy and wellbeing, and as a leading Islamic bank in the UAE, we are committed to improve financial literacy and empower families in managing their long-term financial goals. We are confident that the ALPHA Youth Account will encourage many UAE families to take the first step towards saving for the future.'
Mohamed Al Hadi, Head of Retail Banking & Wealth Management at Emirates Islamic, said: 'The young generation is extremely digital-savvy and socially aware. With the ALPHA Youth Account, we have implemented the latest technology to provide them with the tools required to make them financially responsible and start them on their journey towards financial wellness. Both the children and their parents can benefit from the range of rewards that come with the ALPHA Youth Account, including the opportunity to win AED 1 million with our flagship Kunooz Savings Account.'
The ALPHA Youth Account reflects Emirates Islamic's ongoing commitment to community empowerment, financial inclusion and innovation in Islamic Banking.
About Emirates Islamic:
Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is a leading Islamic financial institution in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE.
Emirates Islamic offers a comprehensive range of Shariah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 40 branches and 229 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp.
Emirates Islamic has consistently received local and international awards, in recognition of its strong record of performance and innovation in banking. Emirates Islamic was recognized as 'Best Overall Islamic Bank' and 'Most Innovative Islamic Bank' at the Islamic Finance News Awards 2024. The Bank was also named the 'Most Innovative Islamic Bank' at the prestigious Euromoney Islamic Finance Awards 2024.
As part of its commitment to the UAE community, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions.
For further information please visit www.emiratesislamic.ae
Or please contact:
Amina Al Zarooni
Media Relations Manager, Emirates Islamic
Email: AminaAlZarooni@emiratesislamic.ae
Burson
Dubai, UAE
Email: ei@bm.com
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