Shariah Banking, also called Islamic Banking are banks that follow Islamic principles in their operations. The term “Islamic banking” refers to a system of banking or banking activity that is consistent with Islamic law (Shariah) principles and guided by Islamic economics.
The United Arab Emirates has taken the lead in this field by providing three Islamic banks occupied the first places worldwide, to compete with so many European and Arab banks alike.
* The most important Islamic banks in the UAE:
1- Dubai Islamic Bank:
The Dubai Islamic Bank (DIB) is an Islamic bank in Dubai, established in 1975. It is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE.
Dubai Islamic Bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services.
Phone: + 971 4 2112888
2- Abu Dhabi Islamic Bank:
Abu Dhabi Islamic Bank was established on 20 May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11 November 1998, and was formally inaugurated by Abdullah Bin Zayed Al Nahyan, UAE Minister of Information and Culture on 18 April 1999. All contracts, operations and transactions are carried out in accordance with Islamic Shari’a principles.
Phone: + 971 2 6100 600
3- Sharjah Islamic Bank:
Sharjah Islamic Bank , formerly known as the National Bank of Sharjah, is a publicly listed Islamic bank headquartered in the emirate of Sharjah in the United Arab Emirates. The bank was established in 1976 and in 2004 converted into a fully Shariah compliant bank.
Phone: 06 5999999
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