Whether you’re new to the UAE or live here, we have a variety of Emirates Islamic Accounts you can choose from.
Please see our range of Current Account and Savings Accounts.
When you submit your application, please ensure you provide all the required documents to speed up the process.
Open an Emirates Islamic Account
Choose the type of account you would like to open with us.
Current or Savings Account / Joint Account / Fixed Deposit
Open a Current or Savings Account
Tell us if you’re new to Emirates Islamic or already have an account with us.
I’m a new customer / I have an account with Emirates Islamic
New customers
You can apply for your first Emirates Islamic Current or Savings Account through one of the channels below:
All non-individual customers must visit any of our branches to open an account.
Existing Customers
If you already have an account with us, you can open a new current or savings account with us using the below channel.
All non-individual customers must visit any of our branches to open an account.
Open a Joint Account
To open a joint account, all the applicants will need to visit any of our branches and provide the required documents for all the joint account holders. Learn more about how to open a joint account here .
Open a Fixed Deposit
To open a fixed deposit, you need to have an existing current account or savings account with Emirates Islamic. If you don’t, first open an account with us and then apply for a fixed deposit. This is available for minors as well.
Learn more about how to open a fixed deposit here.
Required Documents
The documents required depend on the type of account you want to open with us. Learn more about the documents you need to open an account.
Fees & Charges
There are no fees to open any type of account with Emirates Islamic.
If your salary is not being transferred to Emirates Islamic, or if you are holding a company account, you will be required to maintain a minimum average monthly balance based on your Banking Package. For every month that this balance is not maintained, you may be charged a fee.
Learn more details about .
FAQs
What is an Emirates Islamic Current Account?
An Emirates Islamic Current Account is a transaction account, which comes with a checking option for the accountholder. An Emirates Islamic Current Account comes with cheque book, Debit Card facilities, and a range of other banking benefits.
What is the process for opening a current account?
An Emirates Islamic Current Account can be opened by visiting any Emirates Islamic branch. Opening a current account will involve filling out an account opening form and providing the required documents.
Am I eligible for opening an Emirates Islamic Current Account?
If you are looking for a comfortable and convenient transaction account option, you can open a current account with Emirates Islamic. Proprietorships, Partnerships, Joint Stock and Limited Liability companies are also eligible for an Emirates Islamic Current Account.
Can a joint Emirates Islamic Current Account be opened?
Yes, opening an Emirates Islamic joint Account is possible. The account can be operated independently or jointly. For specific tasks (like the opening/closing of the account), joint authorisation will have to be provided. A joint account can’t be opened if one of the respective individuals is a minor.
What currencies can an Emirates Islamic Current Account be opened in?
An Emirates Islamic Current Account can be opened for several major currencies, including AED, USD*, GBP, Euro, Yen, Canadian Dollar, Saudi Riyal, Kuwaiti Dinar, Qatari Riyal, Bahraini Dinar and Omani Riyal.
*Foreign Currency Current Accounts do not offer a debit card and cheque book facility.
Will I earn any high profits or rewards with my Emirates Islamic Current Account?
No, an Emirates Islamic Current Account does not pay out any profits.
What facilities does an Emirates Islamic Current Account Offer?
An Emirates Islamic Current Account offers the following facilities:
- Free Debit Card
- Cheque Book
- Phone Banking
- Online Banking
- Mobile Banking App
- SMS Alerts
- Availability in Foreign Currency
Can I open an Emirates Islamic Current Account for a minor?
No, you cannot open an Emirates Islamic Current Account for a minor less than 21 years of age.
What is the minimum balance requirement for operating an Emirates Islamic Current Account?
The minimum balance requirement is to maintain a minimum of AED 3,000 in the account. Where the salary is transferred to the account, the minimum balance requirement is waived.
How can I view my Emirates Islamic Current Account Balance and Statements?
You can view your Emirates Islamic Current Account Balance and Statements through Online Banking and SMS Alerts. This information can also be accessed through ATMs and IVR.
Can I open a current account online?
No, you cannot open a current account online.
Are there any charges on failing to maintain a minimum balance in the current account?
A fee of AED 25 per month (plus applicable VAT) will be charged for not maintaining the required balance.
Is Salary Transfer mandatory for an Emirates Islamic Current Account?
Yes, it is mandatory for salaried individuals.
When will Statements be issued for my Emirates Islamic Current Account?
You will be subscribed to e-Statement which will be sent to your registered email ID on a monthly basis.
- Conventional Bank is a financial body which receives money from the depositors against fixed rate of interest and it offers liquidity to borrowers against higher interest. And it is governed by conventional banking laws
- Islamic Bank is a financial body which executes commercial contracts like sale & purchase, leasing, or construction and are governed by Islamic banking laws which allow financial bodies to carry on commercial activities for profitable purposes
What is the difference between Interest and Profit?
- Interest is any increment earned over and above the loan amount which is not permissible as per Shariah
- Profit is any additional revenue generated through various trade activities. Earning profit is permissible as per Shariah
Islamic Banks do not earn any interest on their financings, rather they generate profits through entering various commercial activities like sale & purchase, leasing, construction etc.
What is the difference between Loan and Financing?
- As per Loan arrangement, the borrower needs to return money to the exact lender from whom he borrowed
- However, Financing is a commercial contract based on sale & purchase, leasing, or construction
- All banking products offered by Islamic Banks are based on financing
What is the difference Borrower and Financee?
- Borrower is a person (or entity) who borrows money from someone else
- Financee is a person (or entity) who agrees to settle a deferred price payable upon execution of a sale & purchase, leasing, or construction contract
What is the difference between Repayment and Payment?
- Installments paid by a Borrower in a Conventional Bank represents repayment of a previously taken loan
- However, installments paid by the Finance Customer in an Islamic Bank represents payment of the sale price, lease rentals or service charges
What is difference between Late Payment Penalty and Charity Amount?
- Borrower in a Conventional Bank undertakes to pay a penalty in case he delays in settling installments on due dates. These amounts are taken as additional profits for the Bank
- Financee in an Islamic Bank undertakes to pay a penalty which will be donated to charity and the Bank does not benefit from these amounts
What is the difference between Loan Buyout and Debt Settlement?
- Islamic Banks offer liquidity - in a Shariah compliant way - by trading Shares, Commodities or Certificates which can help the Customer to settle his outstanding debt with another bank
- However, Conventional Banks buyout the loan without any Shariah arrangement
What is the concept of Risk Bearing in Islamic Banking?
- All profits claimed by Islamic Banks on its financings are based on the concept of risk bearing, where the Bank as seller or lessor has to bear the risk of the underlying asset at the time of executing the financing contract with the customer
