The United Bank sponsors the second Arab Conference for Islamic Banks affiliated with League of Arab States
27/09/2022
With the cooperation of the Arab Administrative Development Organization and the Egyptian Islamic Finance Association Eifa
The United Bank sponsors the second Arab Conference for Islamic Banks affiliated with League of Arab States
Cairo 27th of September,2022
Under the title of FinTech and it's role in developing the Islamic banking industry, the Arab Conference for Islamic Banks launched today its second conference, organized by ARADO in the League of Arab States and Eifa, sponsored by The United Bank.
Dr. Mohamed El Beltagy- Head of Eifa and member of AAOIFI Accounting Standards Committee inaugurated the conference.
A group of elite UB team participated in the conference specializing in banking transactions compliant with Shariaa, under "Rakhaa" sharia compliance trade mark. As well as, a number of banking pioneers, especially Islamic Banks and FinTech experts.
A number of key axes were discussed, among them: the importance of FinTech in Islamic banking industry, reflection of FinTech on developing Islamic financial industry.
Commenting on The United Bank participation in the annual Arab Conference of Arab Islamic Banks, banking industry either conventional, Shariaa compliant and digital services has a huge burden of economic activity, throughout market mechanisms industry, attracting clients, business men and client segment targeting Shariaa compliant transactions.
UB stated that the Egyptian citizen's with their digital culture awareness creates a huge demand towards digital services for both traditional and Shariaa compliant services in the market. That's why UB has exerted much effort and diligence to develop technological systems.
UB believes that it is the client's right to enjoy the fruits of smart technology applications, which positively reflected in saving their time and effort, and also contributes generally in economic activity growth on large scale.
The United Bank indicated that it's Strategic axes are based on innovating a number of finance and banking products compliant with Shariaa. Which allows UB to become one of the most important Islamic Finance arms in the market providing Shariaa compliant banking solutions in 68 branches covering all around the Republic, under "Rakhaa". This was through developing and continual update to the technological infrastructure of computers and specialized systems and programs within Islamic banking service.
As well as, UB regulatory Shariaa compliant applications operating throughout multi mechanisms to empower UB legitimate authority with a number of elite Islamic scholars in Islamic economy and jurisprudence to ensure the legitimacy of proposed products.
Besides, qualifying the human cadres and providing training in modern technology to blend digital banking services with Islamic economic mechanisms.
UB approach is to expand its market share by attracting segment of clients. UB also provides a package of distinctive financial services through online banking, mobile banking and UB digital wallet, under the title of "Your Bank Online " package.
Also, there are 5 digital centers which provides its customers the freedom of controlling their money and investment 24/7. These centers are located in: the 5the settlement in New Cairo, El Sheikh Zayed in 6th of October, In front of the Shooting club Dokki in Giza, Hadaba Wosta in Mokkatam, and in the industrial zone in Gamasa.
As well as, innovating financial solutions, like: wealth and cash management, leasing finance, SMEs financing. In addition to its cooperation with I- Score, UB provides the service of instant inquiry of credit worth and registration in the register of moving guarantees, through UB website or virtual ATMs. As well as, a package of certificates and saving deposits compliant with Shariaa. Besides, package of personal loans "easy learn", SMEs financing start- ups and entrepreneurships. As well as, a package of credit cards, coming ahead is Rakhaa card, compliant with Shariaa.
