The memorandum of understanding will enable Dubai Chambers members to access a suite of Shariah-compliant banking solutions and products from Emirates Islamic, according to the Emirates News Agency. This collaboration aims to address the evolving financial needs of businesses in the emirate by streamlining access to Islamic finance options. Senior officials from both organisations participated in the signing, highlighting the strategic value of enhanced cooperation between the business representative body and the financial institution.
Dubai Chambers will work with Emirates Islamic to introduce value-added services tailored for its network of companies, a joint announcement stated. The agreement focuses on delivering financing, trade facilities and other banking tools that comply with Islamic principles and support expansion plans. The partnership builds on the chambers’ role in advocating for the private sector and facilitating resources that contribute to Dubai’s economic objectives.
UAE Islamic finance assets reached $381.2 billion across 43 institutions as the country ranked third globally in the 2025 Islamic Finance Development Indicator, according to Economy Middle East. A national strategy targets growing Islamic banking assets to Dh2.56 trillion by 2031 as part of efforts to solidify the UAE’s position in the sector. The latest MoU aligns with these goals by increasing availability of compliant products for the business community.
Central Bank of the UAE figures show Islamic banking assets jumped 23 percent to more than 955 billion dirhams by November 2025. Credit extended by these banks rose 23 percent while deposits increased 28.2 percent over the same timeframe. The data illustrates sustained momentum in demand for Shariah-compliant financial services throughout the country.
Emirates Islamic reported total assets of AED153.8 billion in the first half of 2026, marking a 5.5 percent increase from the end of 2025, according to the bank’s financial statements. Customer financing grew 9.1 percent to AED97 billion during the period while deposits rose 8.3 percent to AED110.6 billion. These results demonstrate the lender’s contribution to sector-wide expansion amid broader Islamic banking resilience in the UAE.
Dubai Chambers has concluded multiple similar agreements with financial institutions during 2026 to broaden support for its members, recent reports indicate. Earlier partnerships with entities such as Abu Dhabi Islamic Bank and Dubai Islamic Bank have targeted SME financing, innovation and trade services. The arrangement with Emirates Islamic further diversifies the resources available to businesses operating in and through the emirate.
