Home Business & Finance Emirates Islamic becomes UAE’s first Islamic bank to offer dynamic currency conversion for Visa card

Emirates Islamic becomes UAE’s first Islamic bank to offer dynamic currency conversion for Visa card

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DUBAI: Emirates Islamic is the first Islamic bank in the UAE offering visitors to the country the option to carry out dynamic currency conversion of their cash withdrawals when using their Visa card at any Emirates Islamic ATM across the country.

The initiative follows a successful pilot by Emirates NBD Group in partnership with Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region, Visa, the world leader in digital payments, and technology provider, Planet.

Non-UAE Visa cardholders will now be able to view the exact conversion amount and fees in their home currency before making a cash withdrawal. This will be powered by Planet’s dynamic currency conversion solution, covering over 130 foreign currencies and integrated by Network International across Emirates Islamic’s ATM network country-wide.

Wasim Saifi, Deputy CEO – Consumer Banking and Wealth Management, Emirates Islamic, said: “We are pleased to now offer a dynamic currency conversion option throughout our extensive ATM network, which will better facilitate cash withdrawals for visitors to the UAE. As the country’s leading Islamic bank, Emirates Islamic remains committed to making banking more accessible, convenient and rewarding for residents and visitors alike.” 

Samer Soliman, Managing Director – Middle East, Network International, said, “As the leading enabler of digital commerce in the Middle East and Africa, Network International is pleased to offer seamless and transparent currency conversion to our clients with coverage of more than 130 currencies. We remain committed to adding value for our clients and look forward to future collaborations that support our commitment to enhance the UAE’s banking and payment ecosystems.”

Simon Marsden, Managing Director, EMEA, Planet said: “We are pleased to partner with Network International to be the first in the UAE to provide a best-in-class Currency Conversion at ATM solution. We are looking forward to rolling out to over a thousand ATMs alongside Network International’s vast experience and knowledge in the MEA region.” News Desk

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