Emirates Islamic, a prominent Islamic financial institution in the UAE, has successfully completed a joint facility for commodity financing based on the Murabaha principle, amounting to $500 million over five years. This transaction marks a significant milestone, highlighting Emirates Islamic’s ability to provide long-term financing in US dollars.
The deal was executed with a highly competitive profit rate for a five-year maturity period, completed within a record timeframe, demonstrating exceptional efficiency in disciplined execution and seamless coordination among all parties involved.
This facility attracted considerable interest from several leading global banks, reflecting the strong relationships Emirates Islamic maintains with international financial institutions and its position as a reliable partner in the banking sector.
In this regard, Farid Al-Mulla, CEO of Emirates Islamic, stated: “We are pleased to announce the successful completion of a joint facility for commodity financing under the Murabaha structure, which will enhance Emirates Islamic’s capacity for strategic growth. This step supports our commitment to purposeful innovation, improving client experiences, and achieving our financing goals.”
Mohammad Kamran Wajid, Deputy CEO of Emirates Islamic, added: “The completion of this five-year joint facility at an exceptionally competitive profit rate, amid strong demand from international banks, is a clear testament to the market’s confidence in Emirates Islamic’s robust financial position and efficient management. Additionally, this financing strengthens the bank’s liquidity position, allowing us to continue supporting our partners and contributing to a more prosperous future for the UAE.”
It is also noteworthy that Emirates Islamic is a leader in integrating Sharia-compliant financing with sustainability practices, as demonstrated by its successful issuance of the world’s first sustainability-linked financing sukuk in 2025.