The bank has recently introduced home finance products including ijara, murabaha, musharaka-ijara and istisna’a, to become the third Islamic mortgage provider in the UAE after Amlak Finance and Tamweel. ‘It will be our core business,’ says Aqil. The bank is due to sign memorandums of understanding (MoUs) with Nakheel, Dubai Holding, Union Properties, in which Emirates Bank is a majority stakeholder, and Deyaar Development, a subsidiary of Dubai Islamic Bank. Emirates Islamic has already signed MoUs with local Emaar Properties and Bahrain’s Al-Khaleej Development Company (Tameer).