ited Arab Emirates, Dubai April 4 th 2009: In line with its strategic objective of providing innovative and customer friendly Islamic banking solutions, EIB EIB announced the launch of the 'Flexi' Investment Term Deposit. This product provides the best combination between having the flexibility of a short term investment deposit (ITD) while providing the returns of a long term ITD. Currently it is being offered for a 9 month maturity and is best suited for customers who wish to avail of 3 month tenure or already have a 3 month ITD with any bank. Commenting on the new innovation, Mr. Faisal Aqil, General Manager Retail Banking at Emirates Islamic Bank Emirates Islamic Bank stated: " At EIB EIB , we are constantly focusing on products that help ease the financial pressure on our customers and maximize their returns. "Flexi" offer customers the higher profit rate of a long tenure ITD along with the comfort, flexibility and financial advantage of a short tenure ITD. Our focus is to anticipate customer needs and deliver products/services that exceed customer's expectations". Investment Term Deposit is based on the concept of Mudaraba where the customer's investment is placed in a common Mudaraba pool and is invested in strict compliance with the laws of Shari'ah in order to generate the best possible returns. Profit on the investment amount becomes payable each calendar quarter, and is credited to the customer's payable account or paid as per the instructions of the customer, at the time of profit distribution. -Ends- About Emirates Islamic Bank Emirates Islamic Bank : Emirates Islamic Bank Emirates Islamic Bank opened its doors in October 2004 with a mission to provide consumers in the UAE with effective and innovative Shari'a-compliant financial solutions. The Bank offers a range of Shari'a compliant products and services conforming to the highest standards of Islamic finance and all its activities are overseen by a Shari'a board comprising several prestigious scholars of Islamic law. On the retail side, the bank has an array of products, such as a full range of credit cards including Visa Infinite Card; Manzili Home Finance, Intaleq Car Finance, and many other products. The bank has also launched Al Reem Ladies Banking, a specialized banking service designed to cater to the banking and financial needs of women in the region. The bank also offers Ethmar Priority banking to suit the demands of the high-net-worth clients. Emirates Islamic Bank Emirates Islamic Bank is very active on the Corporate Banking level, seeking exceptional investment opportunities in the local as well as the regional market. Within almost three years of its inception Emirates Islamic Bank Emirates Islamic Bank has managed to position itself as one of leading financial players in the UAE's banking sector. The bank's rapid growth and success is mainly due to its continued successful launch of Shari'a compliant products, services and other key business initiatives. EIB EIB is headquartered in Dubai, employs more than 800 staff and has currently 28 branches across the UAE. For more information please contact: Suzan Barhoush PR General Manager Tel: 04 295 11 77 Fax: 04 295 11 88 Email: suzan@tamra-c2.com © Press Release 2009 omar 1.1:zy