MANAMA: Gulf International Bank (GIB) announced that its digital retail banking arm meem has been named the Best Islamic Digital Bank 2021 at the 11th Global Islamic Finance Awards (GIFA).
Launched in Saudi Arabia in 2014 and in Bahrain in 2018, meem is the world’s first digital Islamic retail bank and provides customers with a range of Sharia-compliant products and services through digital channels.
The GIFA awards recognise, encourage and reward governments, institutions and individuals who have exhibited outstanding achievements and excellence, and have contributed to the sustainability and growth of Islamic banking and finance as a viable system within the global financial system.
Innovations over the past 12 months were key to meem’s selection for the award.
These included the launch of its home finance product and the ajeeb rewards programme for credit card customers and integration of E-promissory note and E-signature capability on all relevant products in Saudi Arabia.
In Bahrain, meem added personal finance and personal finance buyout products to its offering.
GIB’s group head of retail banking Mohammed Al Ajmi commented: “We’re delighted to see meem recognised. We’re extremely proud of the continued advancements being made to grow our offering and to optimise the digital banking process for our customers across Saudi Arabia and Bahrain.”
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