QuickRemit, the 60-second online fund transfer service from Emirates Islamic, is now available for remittances to the UK.

Emirates Islamic customers can conduct QuickRemit transfers to any Lloyds Bank account in the UK in less than 60 seconds. Transfers to accounts with other UK banks will take one hour. Lloyds Banking Group is the largest UK retail bank by market share.

Emirates Islamic customers can use the QuickRemit service via EI+, the bank’s mobile banking app.

Mohamed Al Hadi, Acting Head of Retail Banking and Wealth Management at Emirates Islamic, said: “Expanding our QuickRemit transfer service to the UK introduces simplicity, agility and security to the remittance experience of one of our key customer segments. The QuickRemit service offers customers a quick, free remittance channel to send money to the UK for various purposes including family needs, education or for investment.”

The bank currently extends the QuickRemit services to India and Pakistan, tying up with HDFC Bank and Faysal Bank respectively.

In October, Emirates Islamic posted its highest ever 9-month profit. Profits increased by 56% to AED 1.65bn ($449m) during the first 9 months of 2023. The increase in profit was driven by higher funded and non-funded income reflecting improved business sentiment.

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By GlobalData