Emirates Islamic has launched the UAE’s first Shariah-compliant Certificate of Deposit (CD) Programme, marking a major milestone in the country’s Islamic banking sector. The initiative is also considered one of the first programmes of its kind globally in Islamic finance.

The new Islamic CD Programme is designed for institutional investors and aims to provide competitive returns while following Shariah principles. The programme will also help Emirates Islamic diversify its funding sources and strengthen its presence in international financial markets.

The total programme size has been set at USD 2 billion. It offers flexible investment options across different tenors and currencies, giving investors more opportunities to manage liquidity and diversify their portfolios.

Farid AlMulla, Chief Executive Officer of Emirates Islamic, said the launch reflects the bank’s commitment to financial innovation and supports the UAE’s vision of becoming a global hub for Islamic finance under the “We the UAE 2031” strategy.

Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic, said the new Certificates of Deposit will act as an additional liquidity management tool for clients and investors. He added that the initiative will help the bank expand its product portfolio, attract global investors, and strengthen its leadership in Islamic liquidity management in line with the UAE Strategy for Islamic Finance and Halal Industry 2031.

Ebrahim Qayed, Head of Treasury and Markets at Emirates Islamic, described the programme as a breakthrough in Shariah-compliant liquidity management. He said the launch highlights the bank’s focus on innovation and its efforts to meet the changing needs of global financial markets.

According to market estimates, the global Certificate of Deposit market is currently valued at nearly USD 729 billion and is expected to grow to around USD 1.2 trillion by 2033. Nearly 46 percent of global CD issuances are denominated in US dollars.

The demand for short-term investment instruments has also been rising across the GCC region. Industry experts believe Emirates Islamic’s new programme will support the growth of Islamic capital markets while further strengthening the UAE’s position as a leading centre for Islamic finance worldwide.