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Emirates Islamic shares 2017 investment outlook with wealth management clients – Zawya

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Dubai, 12 June, 2017

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently shared the investment outlook for 2017 with its wealth management clients at exclusive events in Abu Dhabi and Dubai titled: ‘Dealing with Global Disruptors – Investment Outlook for 2017.’ Presented by Gary Dugan, Chief Investment Officer (CIO) for Emirates NBD, the investment outlook focused on global highlights during 2016, as well as investment areas, trends, digital disruptions and observations for the upcoming year.

The event provided a platform to communicate Emirates Islamic’s global outlook and analysed key indicators across the world economy and financial markets, based on which traders and analysts make recommendations on financial transactions and investments.

Welcoming the bank’s High Net Worth (HNW) clients to the event, Jamal Bin Ghalaita, Chief Executive Officer, Emirates Islamic said: “Wealth Management is one of the key pillars of the banking proposition at Emirates Islamic, and we aim to provide personalised wealth advisory services to our clients through a comprehensive platform, backed by in-depth knowledge in Islamic finance and extensive expertise in local and regional investments. The continued collaboration with global Islamic finance solutions providers also empowers Emirates Islamic to provide additional value to clients, and enables us to move closer to our goal of becoming the preferred provider of Shari’a compliant wealth management solutions in the region.”

Dugan’s presentation underlined that there have been several disruptions to the global economy during the last year, thereby creating challenges to perceived conventional wisdom. Citing events such as Brexit, US President Donald Trump’s victory, the rise of Indian Prime Minister Narendra Modi and the launch of the Tesla Car as ‘Global Disruptors,’ Dugan said: “These political and technological events were major surprises to global financial markets, and have triggered significant shifts in the valuations of currencies and asset classes. More importantly, they have forced investors around the globe to rethink their long-term investment strategies.”

Explaining that the disruptions to conventional wisdom would most likely continue through 2017, Dugan also offered pointers on what this means for investments across various asset classes: “Given the ongoing volatile global economic and political environment, it is important to invest in countries and sectors that offer long term growth and value. We believe for example, that sectors like technology and healthcare and countries like India offer relative value in current environment. As a general principle, investments should focus on preserving capital, while at the same time achieving reasonable profit levels.”

“Gold continues to play an important role for us. The yellow metal price has continued to deliver returns and remains a key diversification component for investment portfolios.” he added.

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The investment outlook event was in keeping with Emirates Islamic’s vision to be a leading Islamic bank in the region. The bank has continued to build on its long-term relationship with customers, through a ‘customer first’ approach, which focuses on personalised financial services.

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About Emirates Islamic:
Established in 2004, as Emirates Islamic Bank, Emirates Islamic is one of the fastest growing banks in the UAE. Combining the best in Shari’a compliant services with the strongest levels of customer care and efficiency, the bank has established itself as a major player in the highly competitive financial services sector in the UAE. Offering products and services developed in line with the highest ethical standards, Emirates Islamic gives customers the transparency they seek in a strong, honest financial partner.

Emirates Islamic offers a comprehensive range of products and services across the Personal, Business and Corporate banking spectrum with a network of 61 branches and 196 ATMs/CDMs across the UAE. In the fast growing area of online and mobile banking, the bank has the reputation as an innovator, and was the first Islamic bank to launch a mobile banking app and the first bank in the Middle East to launch an App on the Windows 8 mobile platform.

Emirates Islamic has consistently received local and international awards, an acknowledgement of the bank’s strong record of performance, growth and market leading banking practices. The bank was named ‘Best Islamic Bank in the UAE’ at the 2015 World Finance Awards and also won the prestigious Euromoney Award for Innovation in Islamic Finance 2015. In the Islamic Business & Finance Awards 2015, the bank was named ‘Best Retail Bank, UAE’; ‘Best Commercial Bank, UAE’; and ‘Best Wealth Management, ME’. The bank won several industry accolades in 2016, including Innovator in Islamic Finance by Global Finance magazine for EI trade, the world’s first of its kind Shari’a-compliant online Trade Finance and Supply Chain platform and Fastest Growing Bank – UAE at the Banker Middle East Industry Awards 2016.

For further information please visit www.emiratesislamic.ae

Or please contact:
Amina Al Zarooni
Media Relations Manager, Emirates Islamic
Tel: 971 4 4397430
Mob: 971 56 6405080
Email: AminaAlZarooni@emiratesislamic.ae

Tricia Kaul | Shaleen Sukthankar
ASDA’A Burson-Marsteller, Dubai, UAE
Tel: 971-4-4507600, Fax: 971-4-4358040
Email: Tricia.Kaul@bm.com  
Shaleen.Sukthankar@bm.com

© Press Release 2017