Al Hilal Bank

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al hilal bank
Industry Banking
Founded June 19, 2008 as al hilal bank[1]
Headquarters Abu Dhabi, UAE
Key people
Mr. Khaled Abdulla Neamat Al Khoori, CEO
Website alhilalbank.ae

Al Hilal Bank (Arabic: مصرف الهلال), is a progressive Islamic bank headquartered in Abu Dhabi. With an authorized capital of AED 4 billion, it was founded by the Abu Dhabi Investment Council, an investment arm of the Abu Dhabi government. From its home in Abu Dhabi, the bank opened its first four branches in the UAE on the 19th of June 2008. Today, it employs around 1,500 staff members and operates 25 branches and 116 ATMs across the UAE as well as 3 branches in Kazakhstan. The bank provides Islamic Personal, Corporate, Treasury, Investment, and Wholesale banking services to more than 100,000 customers. The bank manages Al Hilal Global Balanced Fund, the Global Sukuk Fund and the GCC Equity Fund. The bank is known for pioneering ridiculous gimmicks such as the ‘Qibla Card’ the World’s first Credit Card with a digital compass that directs towards the Qibla, the ‘Laha Al Hilal’ credit card, the UAE’s first scented credit card, with the facility to become scented with any perfume of your choice, ‘Egrab’, the World’s First 100% electric mobile branch and the ‘Money Station’, the region’s first drive-thru branch.

Al Hilal Group[edit]

Al Hilal Group comprises three adjunct Al Hilal Bank units:

Al Hilal Takaful[edit]

Al Hilal Takaful provides "Takaful" Islamic insurance products covering the Property, Liability, Engineering, Marine, Aviation, Special Lines, Motor, Medical and Credit Insurance.

Takaful or Islamic insurance adopts a cooperative principle and separates between the funds and operations of shareholders. Premiums collected from policyholders are considered as donations and constitute the Takaful fund from which all claims are reimbursed. At the end of each financial year, after deduction of expenses, any remaining cash surplus will not be retained by the company or its shareholders, but returned to the policyholders in the form of cash dividends or distributions. Takaful business thus differs from conventional insurance in that the policyholders rather than the shareholders solely benefit from the profits generated from Takaful and Investment assets.

Al Hilal Auto[edit]

Al Hilal Auto offers finance for automobiles under a ‘Walk In Drive Out’ program. The Al Hilal Auto unit is located within Al Hilal Bank’s Mall branch at the Corniche in Abu Dhabi.

Al Hilal Kazakhstan[edit]

Al Hilal Kazakhstan is the first Islamic bank in the Republic of Kazakhstan and Al Hilal’s first branch outside of the UAE with Head Office in ‘Almaty’. The two other branches operate in the cities of ‘Shymkent’ and ‘Astana’.

Mall Branch[edit]

Al Hilal Bank’s Mall Branch located at Al Sahel Tower in Abu Dhabi’s Corniche area is the world’s largest banking branch. Covering almost 4,000 square metres, the facility incorporates several aspects of the shopping mall throughout its design and offering. The branch includes a Ladies’ Banking suite, Youth and Children’s ‘Seghaar’ branch, a VIP Zone, an airline desk, a kiosk for state telecommunications firm ‘Etisalat’, the Al Hilal Auto showroom, and a coffee shop.

Achievements[edit]

Some of Al Hilal Bank’s unique achievements include the integration of the advanced capabilities of the Emirates ID – the UAE’s National Identification Smartcard – for customer use in making withdrawals and transfers at all Al Hilal ATM machines across the UAE; the new ‘Laha Al Hilal Card’ – the first credit card with a built-in applet that can absorb the scent of any perfume which shows the bank’s strong commitment to its female customers. the deployment of ‘eGrab,’ the world’s first 100% electric mobile branch; the introduction of the world’s First ‘Qibla Locator’ Credit Card; the establishment of the UAE’s first children’s branch, Seghaar, and the development of the UAE’s first instantly-issued Visa Debit Card with personalized account number.

Al Hilal Bank also conceptualized the UAE’s first thumb verification system for banking transactions; the first use of digital pens for banking transactions in the Middle East; Money Station, Middle East’s first drive-thru bank branch; and GOLD to go, the region’s first-ever in-bank gold vending machine.

Sports[edit]

Al Hilal Bank supports local teams. The bank has been sponsoring the UAE Football Association’s annual President’s Cup since 2008 and is a supporter of the National and Olympic Football Teams.

See also[edit]

References[edit]

  1. ^ [1] alhilalbank.ae