Emirates Islamic has introduced the UAE’s first Shariah-compliant Certificate of Deposit (CD) Programme. This initiative reflects the growing development of Islamic banking markets and the UAE’s ambition to strengthen its standing as a global Islamic finance hub.
Traditionally used by institutional investors as short-term liquidity tools, certificates of deposit have long played an important role in conventional financial markets.
Introducing a Shariah-compliant version into the Islamic banking ecosystem offers investors an additional avenue for diversifying their portfolios while remaining aligned with faith-based investment principles.
Structured with a programme size of US$2 billion, the initiative enables investors to participate across a range of tenors and currencies in response to growing demand for more flexible Islamic liquidity management solutions.
Emirates Islamic Chief Executive Officer Farid AlMulla described the launch as an important milestone for the institution and the wider Islamic finance landscape.
“We are proud to introduce our Certificate of Deposit Programme, a significant offering that reinforces Emirates Islamic’s standing as a global leader in Islamic banking,” he said.
The move also aligns with broader national ambitions under the UAE Strategy for Islamic Finance and Halal Industry 2031. The ‘We the UAE 2031’ vision aims to enhance the country’s competitiveness in Islamic banking and financial innovation.
Globally, the certificate of deposit market continues to expand, with outstanding value at approximately US$729 billion and projected to exceed US$1.2 trillion by 2033. US dollar-denominated issuances account for 46 per cent of the market.
This figure further underscores sustained demand for short-term investment instruments.
For Emirates Islamic, the programme is as much about market positioning as it is about product diversification. By introducing one of the earliest Shariah-compliant currency CD programmes worldwide, the bank aims to broaden funding channels and attract new investor segments.
As Islamic finance continues to evolve beyond traditional banking products, innovations in liquidity management are increasingly important to strengthen resilience and competitiveness across the sector.
