Emirates Islamic, a financial institution under the Emirates NBD Group, has announced the provision of $50 million in Sharia-compliant trade financing to Eclipse Investment Group. This funding aims to support the group’s diverse industrial operations, enhance its import and export activities, and bolster its supply chain expansion plans.
The financing will empower Eclipse Investment Group to improve its liquidity and expand its footprint in key markets. This collaboration aligns with Emirates Islamic’s strategic focus on growing its commercial banking portfolio, which supports the UAE’s ambitions for industrial development and economic diversification.
Mohammed Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, stated: “Our partnership with Eclipse Investment Group exemplifies how Emirates Islamic delivers tangible impact through Sharia-compliant financing. We aim to equip businesses with the necessary tools to enhance their trade, free up working capital, and confidently pursue growth, further solidifying the UAE’s position in the global economy.” The funding showcases Emirates Islamic’s ability to structure and deliver Sharia-compliant solutions tailored to meet the evolving working capital needs of its clients while also strengthening the bank’s presence in the manufacturing and distribution sectors.
Niels Borman, Chief Executive Officer of Eclipse Investment Group, remarked: “We are pleased to collaborate with Emirates Islamic through this remarkable partnership, which underscores our commitment to strengthening local industries and contributing to a more diversified and resilient economy in the UAE.”