Emirates Islamic Bank, a subsidiary of Emirates NBD, has announced the closure of five branches as part of its strategy to optimize its network in response to the growing trend of online banking in the UAE. Mohammed Kamran Wajid, Deputy CEO of Emirates Islamic, emphasized that the move is driven by technological advancements but assured that the bank remains committed to maintaining a physical presence. He stated, ‘We are rationalizing our branches as technology takes over, but we are not eliminating physical locations. We may reinvest the savings into further technological development to enhance customer service.’ The bank, which previously operated 45 branches, plans to complete the closures by the end of the year. Wajid also confirmed that the closures would not result in job losses, highlighting the bank’s focus on talent retention. Emirates Islamic employs over 30,000 people and is the largest financial services employer in the region. The bank reported a record Dh3.2 billion profit before tax for the first nine months of 2025, with total income rising 9% year-on-year to Dh4.5 billion. The UAE’s Islamic banking market, valued at $221 billion in 2024, is projected to grow to $352 billion by 2029, driven by the country’s role as a global financial hub. Wajid noted that the closures involve legacy branches located near Emirates NBD branches, allowing for better resource allocation and customer acquisition. The bank, which boasts a capital adequacy ratio of 18.8%, remains highly liquid and plans to focus on digitization and AI integration to strengthen its competitive edge in the corporate banking sector.