ila News

Manama, Bahrain: ila Bank sweeps the ‘Best Digital Bank in Bahrain’ title at the MENA Banking Excellence Awards 2024, organised by Middle East Economic Digest, MEED. Held in Dubai on 8 May 2024, the event brought together industry trailblazers and heavyweights to celebrate the best-in-class banking and financial services institutions for their commitment to innovation and customer-centric banking offerings.

The award stands testament to ila Bank’s revolutionary approach to financial management enabled by its exclusively cloud-based, digital mobile-only banking proposition - a landmark achievement in the history of retail banking in the MENA region.

Commenting on this achievement, Mohamed Al Maraj, ila Bank’s CEO, said, “This prestigious award stands testament to ila’s innovative banking proposition, which has bolstered financial inclusion and encouraged positive financial behaviors in the region. ila empowers customers to achieve their lifestyle and financial aspirations through an extremely personalized, effortless, and seamless banking experience. Such recognition reaffirms our commitment to continuously harness the power of digital innovation to deliver tailored solutions and fulfil our brand promise of offering – banking that reflects you.”

“I would like to thank our customers for joining us on this journey to financial freedom, our Board and leadership at Bank ABC for their vision and unwavering support, the ila team for upholding our customer-centric culture, and MEED for this esteemed recognition,” added Mr. Al Maraj.

Ed James, Head of Content & Research, MEED said: "ila Bank wins the Best Digital Bank award for its groundbreaking blend of technology and human-centric design, offering seamless digital-only banking solutions. With features like rapid onboarding and multi-currency accounts, it sets a new standard for convenience and accessibility in banking. High customer satisfaction, exceptional growth metrics and consecutive accolades affirm ila Bank's leading position in the digital banking landscape in Bahrain. Congratulations to Ila Bank on this well-deserved recognition!"

The brainchild of Bank ABC, ila Bank has consistently been at the forefront of innovation and digital transformation since its inception in 2019. By merging technology with human-centric design, ila Bank offers next-generation banking services, at consumers fingertips around the clock.

Through rapid onboarding within minutes, customers can avail multi-currency accounts, quick payments/transfers, greater control and flexibility with their finances, and seamless saving tools within the acclaimed ila app.

Along with achieving rapid growth in Bahrain, ila Bank has expanded its footprint to Jordan, and introduced an in-app Islamic banking proposition, ‘alburaq’. With these notable achievements, ila Bank has positioned itself as a major player in the global mobile banking arena that has been a significant catalyst of financial inclusion and driving momentum towards a cashless economy.

The MENA Banking Excellence Awards represent a beacon of distinction among peers- from pioneering digital transformations to championing sustainability, fostering financial inclusion and mastering talent management. The awards recognise the unwavering commitment, innovative spirit and exemplary performance exhibited by banks and individuals alike.