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Wealth Management account

Wealth Management account

Our Wealth Management Account is aptly named, as it places you above everyone else. This exclusive account offers opportunities for wealth creation, management, preservation and financing. Besides an array of exclusive products, privileges and services, you will also have a dedicated Relationship Manager to handle everything on your behalf.

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Types

Current, Savings, Savings Plus, Dual

 

Privileges

  • Wealth Management credit card: As a Priority client, you are entitled to a feature-rich credit card with no annual fee, and free access to several services and facilities such as fitness centre membership, valet parking, roadside assistance and travel desk service, among others.
  • Reduced rates: Priority clients are offered waiver of fees or reduced rates on services such as telegraphic transfers and cheque books, and products such as home finance, wakala deposits, and overdrafts.
  • Preferential terms: Apart from reduced rates, Priority clients are also offered preferential terms on products such as Home and Auto Finance, to ensure that you receive maximum value with minimum requirements. You are also entitled to higher withdrawal limits with your Wealth Management debit card.
  • Dedicated services: We ensure your priority status every time you come in contact with us, or transact with us, such as at our teller counters. You will also have access to a dedicated service centre and service teams, 24x7x365.
 

Relationship Managers

At Noor Bank, we offer important individuals like you exclusive services and extraordinary benefits. It is our team of Relationship Managers who deliver them to you.

With their personal warmth and professional service, we look forward to establishing long-term relationships with you.

Your dedicated Relationship Manager will assist you on everyday money matters, and advise on planning your investments for tomorrow.

 

Investment products

At Wealth Management, we use an asset allocation strategy that balances risks and rewards, by apportioning assets according to your goals, tolerance levels, and investment horizons. Further, the main asset classes of equities, Sukuk and Islamic cash or its equivalents have different levels of risk and returns - which will also behave differently over time - and we are well equipped to advise you on its pitfalls and performance. Using our open architecture, we will guide you to the best investment options that best suit your interests.

  • Dual Currency Murabaha (DCM): This short-term liquidity management product is based on a regular Commodity Murabaha transaction and a Unilateral Promise (W’aad), and allows you to earn a higher profit rate on your surplus funds.
  • Mutual Funds: In these collective investment schemes managed by professional asset management firms, capital from investors is clubbed together and collectively invested in various marketable securities including equities and corporate and government Sukuk, government Sukuk, etc. At Noor Bank, we offer you a full range of Shari’a compliant investment solutions through Islamic Mutual Funds, all of which are approved by the Fatwa and Shari’a Supervisory Board.
  • Sukuk: Sukuk is ideal for you if you would like a regular income through coupon payments, and an opportunity for capital appreciation through the sale of securities before maturity, if the price moves up. Noor Bank has a dedicated Sukuk trading desk, with experienced traders who actively deal in the secondary markets of local, regional and international Sukuk.
  • Systematic Investment Plans (SIP): Our Systematic Investment Plans harness select Islamic mutual funds to help you achieve a variety of goals: your children’s education, a holiday home, or comfortable retirement. You also have the added advantages of Family Takaful protection, and increasing the value of the money you invest. With monthly investments starting at AED 500 for a minimum period of 5 years, and an emergency cash back option - which allows you to withdraw funds without any penalty up to 40% of the fund value - SIPs are a smart strategy to plan for the future.
 

Finance products

We offer convenient, comprehensive and customised financing solutions to meet both planned and unexpected needs – all designed specifically with the objective of helping you plan wisely. As a Priority client, you will get several advantages on our Home, Auto and Personal Finance packages: low rates, upfront charges, fast processing time, comfortable payment options, and exclusive benefits.

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