Dubai’s corporate banking sector sees another major partnership as Emirates Islamic, one of the UAE’s leading Islamic financial institutions, becomes the lead cash management service provider for Kimera Group’s entire UAE financial operations.
The strategic alliance positions Emirates Islamic to handle all of Kimera Group’s UAE financial activities through a comprehensive suite of digital banking tools and Sharia-compliant solutions designed for modern corporate needs.
Emirates Islamic Delivers Complete Digital Banking Package
The partnership grants Kimera Group access to Emirates Islamic’s most advanced digital banking platforms, including businessONLINE and smartTRADE systems that streamline corporate financial operations.
BusinessONLINE serves as a comprehensive digital cash management ecosystem that provides single-window access to multiple banking services. The platform delivers real-time dashboards, multi-account statement downloads, and customized reporting capabilities that help businesses make data-driven financial decisions.
SmartTRADE complements this offering as a complete Islamic trade platform designed to reduce transaction turnaround times and operational costs while maintaining full Sharia compliance for international trade financing.
Advanced Banking Technology Meets Traditional Islamic Finance
Emirates Islamic equips Kimera Group with banking infrastructure including Smart Cash Deposit Machines (SCDM), Intelligent Cheque Clearing System (ICCS) scanning, and remote cheque printing capabilities.
The collaboration also encompasses payroll services for non-WPS transactions and corporate credit card solutions tailored to Kimera Group’s specific operational requirements.
These digital tools enable Kimera Group to conduct complex financial operations remotely while maintaining full regulatory compliance and operational security through Emirates Islamic’s robust encryption protocols.
Leadership Highlights Strategic Growth Vision
Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic, emphasized the bank’s commitment to digital-first banking solutions that unlock efficiency and customer empowerment.
“We are pleased to partner with Kimera Group to deliver comprehensive digital banking solutions to meet their advanced financial needs,” Wajid stated, highlighting how the collaboration strengthens Emirates Islamic’s position as a trusted corporate banking partner.
Tariq Al Ghussein, Chief Executive Officer of Kimera Group, described the partnership as a strategic move to advance the company’s financial operations with state-of-the-art digital banking solutions that enhance operational efficiency and drive financial agility.
Emirates Islamic Strengthens Corporate Banking Leadership
Emirates Islamic, part of Emirates NBD Group, operates 40 branches and 229 ATMs/CDMs across the UAE, making it one of the most accessible Islamic banking networks in the region.
The bank pioneered several industry firsts, including being the first Islamic bank in the UAE to launch mobile banking applications and offer Apple Pay integration. Additionally, Emirates Islamic became the world’s first Islamic bank to implement WhatsApp Chat Banking services for customers.
Recent recognition includes “Best Overall Islamic Bank” and “Most Innovative Islamic Bank” awards at the Islamic Finance News Awards 2024, plus “Most Innovative Islamic Bank” at the Euromoney Islamic Finance Awards 2024.
Digital Banking Solutions Drive Business Efficiency
The partnership provides Kimera Group with 24/7 access to banking services through multiple digital channels, eliminating traditional banking constraints and enabling real-time financial management.
Key features include multi-currency payment capabilities, automated recurring payment systems, virtual account management, and comprehensive reporting tools that provide detailed insights into cash flow patterns and financial performance.
These solutions support Kimera Group’s growth objectives by streamlining financial processes, reducing manual intervention, and providing the agility needed for modern business operations in competitive markets.
The collaboration represents Emirates Islamic’s continued expansion in corporate cash management services, positioning the bank as a preferred partner for companies seeking sophisticated digital banking solutions combined with Islamic finance expertise.
