At Noor Bank, we recognize that the biggest challenge for any organization is the efficient management of liquidity and risks. The key to business success therefore lies in superior abilities of foreseeing and identifying opportunities for investing and at the same time managing and mitigating risks.
Our comprehensive product portfolio is especially designed to cater to the specific needs of our corporate and institutional and wealth management clients, with whom we aim to establish and nurture strong, long term relationships. Furthermore, we have an exclusive Treasury Sales team, ready to offer tailored solutions for the business needs of our valuable customers. These aspects, combined with our professional management and customer friendly policies, will help us become the first choice for investments and risk management.
Foreign Exchange Products
- FX Spot
Noor Bank has the capability to provide quotes in various Foreign Exchange currencies. Our Foreign Exchange dealers actively deal in the G10 and GCC currencies. Noor Bank also offers remittances services in more than 140 currencies across the globe.
- Islamic FX Forward (W'aad)
Noor Bank offers Islamic Foreign Exchange Forwards through the Shariah compliant structure using a unilateral W’aad. Our dealers have the capability to offer forward prices in various currencies to clients looking to exchange foreign currencies in a forward date.
Cash Management Products
- Commodity Murabaha
Commodity Murabaha is a Sharia compliant product used for investing excess funds. A counterparty can invest excess funds with Noor Bank by entering into a Commodity Murabaha transaction and earn a profit through the difference in the purchase and sale price of the Commodity transaction. Noor Bank Treasury has a dedicated unit which deals with international and well reputed brokerage houses to execute the Commodity transactions.
Wakala is a Shariah-compliant product used for managing short to medium term cash flow requirements. An investor can earn a profit at an anticipated rate by entering into a wakala transaction with Noor Bank. The investor acts as Muwakkil while Noor Bank will act as Wakil to invest these funds in a pool of Shariah-compliant assets.
- Profit Rate Swap:
Noor Bank is an active player in the Profit Rate Swap market and has the capability to offer this product in various currencies for medium to long term (within approved guidelines). A Profit Rate Swap is a product through which the institutions can efficiently manage their profit rate exposures. This product is beneficial to both the borrowing and investing institutions as they can hedge their market rate exposures. A Profit Rate Swap is an agreement to exchange profit rate payments between a party paying Fixed Profit Rate and a party paying Floating Profit Rate or vice versa implemented through the execution of a series of underlying contracts to trade certain assets under the Sharia principles of Murabaha financing and Murabaha investment.
- Islamic Cross Currency Profit Rate Swap
Islamic Cross Currency Profit Rate Swap product allows institutional clients to take advantage of the difference in the profit rates of different currencies and hedge potential currency and rate exposure. An Islamic Cross Currency Profit Rate Swap is an agreement to exchange profit rate payments from one currency to another currency implemented through the execution of a series of underlying contracts to trade certain assets under the Sharia principles of Murabaha financing and Murabaha investment.
- Dual Currency Murabaha
A Dual Currency Murabaha is a short-term liquidity management product that allows investors to earn a higher profit rate on short-term surplus funds. The components consist of a regular Commodity Murabaha transaction and a Unilateral Promise by the client to purchase a certain currency at a pre-agreed rate on the maturity date if the conversion price is reached.
- Islamic Structured Deposit
Investors looking for a longer tenor are offered the Islamic Structured Deposit product which is a Sharia compliant investment product. An investor can invest in an index of certain shariah compliant asset classes and earn a return based on the movement of that reference index or index strategy. The profit can be based on stocks, commodities, and other combinations or basis performance. This product is a combination of a Commodity Murabaha and a Wa’ad to enter in another Commodity Murabaha at the end of the investment period for the profit amount.
A ‘Sakk’ (singular of Sukuk) represents a document or certificate that is based on a company asset or assets. Each Sakk pays a profit rate on a quarterly, semi-annual or annual basis depending on the structure. Noor Bank has dedicated Trading, Sales and Origination specialists providing guidance and pricing for many Sukuk issues. Apart from providing opportunities for investors to buy and sell Sukuk in the primary as well as in the secondary market, Noor Bank also offers custody services to hold the Sukuk on behalf of the client.
THE SIMPLE, EASY WAY
Noor Bank offers you the facility to invest in gold. As an account holder, you can walk into any branch, have your account debited and purchase physical gold. We can even deliver the gold or store it for you at a nominal cost.
- In association with Dubai Multi Commodities Centre (DMCC).
- Coins minted by Argor-Heraeus, a leading Swiss refinery. Available in 4 denominations: 1 ounce, ½ ounce, ¼ ounce and 1/10 ounce. Gold purity: 99.99 (24 carat).
- Kilo bars also available. Swiss Argor-Heraeus Gold/LBMA Gold/Emirates or Etihad Gold offered.
- Collection of gold from vault with prior confirmation.
- Delivery in Dubai/Sharjah: AED 650 (in 2 days, for gold value up to USD 1 million)
- Delivery in Northern Emirates: AED 1,200 (in 2 days, for gold value up to USD 1 million)
- Delivery outside UAE: Available on request
- Storage (if applicable): 0.75% of gold value per annum
- Arrangement fee: 0.5% of gold value