UAE always stands as one of the best places for banking and it’s always been a hub for transactions and investments in the Middle East. Islamic banks have rapid growth in UAE and here are the few Islamic banks present in UAE.
1. Mashreq Bank
Mashreq Bank was founded as the Bank of Oman in 1967 with its headquarters in Dubai and was the first bank to issue debit and credit cards and also the first to introduce consumer loans. Having the vision of being the region’s progressive bank, Mashreq strives to provide innovative products and services to the customers.
Products and Services
With its growing retail presence in the regions like Egypt, Qatar, Bahrain, and Kuwait, Mashreq Bank provides a variety of products and services including Personal banking, Business banking, Corporate banking, credit cards related to shopping, traveling, movies etc.,
2. Union National Bank
Union National Bank was established in 1982 as a Public Joint Stock Company with its headquarters in Abu Dhabi and is one of the leading domestic banks in the United Arab Emirates. United National Bank offers a wide range of products and services targeting the needs of customers ranges from basic to complex requirements of corporate entities
Products and services
With its vision to be the best bank, Union National Bank provides various products and services including Personal, Business, Private and Islamic banking etc.,
3. First Abu Dhabi Bank
FAB is one of the largest financial institutions in the UAE. It was established in 1979 with its headquarters in Abu Dhabi and with its strategic offerings meets the basic banking needs of the customers across the world.
Grow stronger is a newly introduced movement which represents the bank’s promise to support its stakeholder’s goals and growth.
Its mission is to put the customers first at any given moment by motivating them to achieve their goals
Products and services
FAB provides different products and services including Corporate, International, Personal, Business banking etc.,
4. Ajman Bank
Ajman Bank is the first Islamic bank in the Emirate of Ajman which was established in 2007 and has branches all over UAE.
Its vision to be one of the favorite financial service brands in the UAE and the whole region.
Products and services
Ajman Bank delivers its excellence through various products and services including Consumer banking, Investment banking, Treasury and Capital markets, Investor relations etc.,
5. Al Hilal Bank
Al Hilal Bank, progressive Islamic Bank founded on June 19, 2008, is known for promoting products like Qibla Card– world’s first credit card with digital compass, Laha Al Hilal credit card– UAE’s first credit card with the facility to get scented with the perfume of your choice, Egrab- world’s first 100% electric mobile branch and money station.
Products and services
With its mission to consistently set new standards that redefine Islamic Banking, Al Hilal also provides products and services including Personal, Wholesale, Treasury banking etc.,
6. Emirates Islamic Bank
Emirates Islamic Bank was launched in 2004 and delivers services by following Shari’a principles. By using Islamic financing tools like Murabahah, Ijarah, and Takaful, Emirates Islamic provides transparent transactions to the customers
Products and services
Emirates Islamic provides a variety of products and services with its mission to offer standard financial solutions to the customers.
7. Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank was established on 20th May 1997 as a public joint stock company following Sharia principles
ADIB being one of the best banks in UAE provides various facilities supporting young football talents, employees, cricket enthusiasts, and financial education
Products and services
ADIB products and services include Personal banking, Private banking, Business banking, Private and Corporate banking
8. Sharjah Islamic Bank
Sharjah Islamic Bank was founded in 1976 and started implementing Sharia principles in 2004.
Products and services
With its vision to be the bank of choice, Bank of Sharjah provides a wide range of products and services including Retail banking, Corporate banking, and Investment banking, Investor relations etc.,
9. Emirates NBD
Emirates NBD was formed in October 2007 and stands as a blueprint for banking and finance sector in UAE.
Products and services
Emirates NBD has its own unique significance in UAE corporate and retail banking area and also plays a strong role in Islamic Banking, Global market, and Treasury, Investment banking etc
10. Dubai Islamic Bank
Dubai Islamic Bank was founded in 1975 and is recognized as the largest Islamic Bank in UAE listed on Dubai Financial Market
Dubai Islamic Bank also stands as the third largest Islamic Bank in the world.
Products and services
With its goal to make Islamic Finance the norm, instead of an alternative to conventional banking worldwide, Dubai Islamic Bank offers products and services including Personal banking, Business banking, Corporate banking, Treasury and Institutional banking, Investment banking etc.,
As always UAE delivers reliable banking services to the customers making it stand out of the crowd most of the times.