Dubai Islamic Bank

The Dubai Islamic Bank or DIB as they call it in the Emirates had been founded back in 1975. Today, the Dubai Islamic Bank is one of the largest banks of the United Arab Emirates. As for its operation, it is being operated according to the requirements of the Islamic regulations covering bank transactions and according to the national regulations on all bank matters.

The Dubai Islamic bank has more than 60 branches all over the United Arab Emirates, with above a hundred of ATM machines all over the cities. By the time of 2006, the whole Dubai Islamic Bank has gone through large changes. They got new logo and new marketing line. It has also implemented other different ways in its banking system. Today, the logo of the Dubai Islamic Bank is green and yellow in colour and it is quite easy to spot.

The system of Islamic Banking would be hard to explain with only a few words, but it is enough to say that, that Islam and its law, the Shariah, has specific business related regulations, with which the Islamic banks, together with the Muslim people should comply.

It is interesting to note that Dubai Islamic Bank also has offices in Pakistan. In addition, there are branches or offices specifically for the Muslim women, these are called Joharas. These only welcome women in their offices. From 2007, Dubai Islamic Bank customers changed their so-called Salik (Dubai Road toll) accounts on phone. The number is 800-4008, just in case you need it. The Al Nahda branch of the Dubai Islamic Bank has opened in the month of January 10th, 2010. Today, there are altogether 24 branch offices only in Dubai with a total number of 62 in the total area of the Emirates.

Dubai Islamic Bank announced a new campaign in 2010 June, which has been developed by the BBDO which has been helping ever since to give a clear and different picture on Dubai Islamic Bank, being different than other banks overall, in the United Arab Emirates. The bank has also implemented its online banking services from 2009 with much success. These give was for mobile banking, account check, limit setting, registrations, chequebook procedures and electronic payments.

Dubai Islamic Bank also deals with real estate and has several offices called Dubai Land Department, where Muslims can buy and sell or overall deal with property business. Dubai Islamic Bank has a plan to open more offices in the area of the United Arab Emirates by the end of the year.

Dubai Islamic Bank (DIB) is among the oldest and highest respected Islamic banks of Dubai. Dubai Islamic Bank was founded in 1975 and ever since, it has a leading role in the banking life of Dubai.

Dubai Islamic Bank can be easily recognised in Dubai from its distinctive green-yellow logo. The bank has around 70 if not more branches within Dubai and has its branches in Pakistan. The rebranding of the services of Dubai Islamic Bank came in 2005, finalised by 2006. They work according to the Islamic Sharia law that punctually describes the main criteria of Islamic Banking, which has several ethical decisions especially when it comes to business account. They decide on the allowance with Islamic banking scholars according to the nature of business. As for the individuals, the most recognisable differences between Western and Islamic banking habits are, that there is no interest neither added nor deducted by the bank although this doesn’t mean that such additions or deductions don’t exist, only they are previously set and work in form of fees or profits. All Islamic Banks, such as Dubai Islamic Banks too have their separate women banks as no women can enter the male section ever. The female banks of Dubai Islamic Bank are called Johara and these specifically serve women clients offering specialised services and extras too.

Dubai Islamic Bank is also called Al Islami in Dubai. The Al Nahda branch of Dubai Islamic bank started from 2010 and ever since operates 24 braches on this name in Dubai and 62 more in the whole area of the United Arab Emirates. Dubai Islamic Bank offers all modern and up-to-date services to its clients such as the phone recharging of their Dubai road toll (Salik) {credit cards} and all the options which banks normally offer yet sometimes under different name. Dubai Islamic Bank also offers its services to its non Muslim clients, yet always according to the normal Islamic banking rules.

You can find at least one branch of Dubai Islamic Bank in every shopping mall and in every area of Dubai. The banks are open from 8.00 to 13.30 but in shopping malls, they are open either until 15.30 or till 16.00 also. Dubai Islamic Bank offers different services according to these categories:

Retail banking : for shops and retail businesses
Wahaja Banking: this is the gold credit card offer of DIB for the most exclusive and richest
Private Banking: exclusive offers for the fairly rich
Johara Banking: only for women, Johara Banks can be found everywhere in Dubai
Business Banking: for all sorts of business related accounts
Corporate Banking : for the bigger corporations, with some exclusive services and lower fees
Investment Banking: please read the guidelines of DIB to learn on Islamic investment regulations
Real Estate Finance: The Islamic rules differ from the Western banking but offer the same service only with different sort of operations.
Contracting Finance: giving help with contract and loan related subjects

Dubai Islamic Bank is among the oldest operating banks of Dubai, offering quality services for both Muslim and non-Muslim clients.

The offices of the Dubai Islamic Bank are open from 08:00 to 13:00 from Saturday to Sunday. There is not much information if foreigners or non-Muslims can open account in the Dubai Islamic Bank, but according to our knowledge, it has no specific criteria with the exception of any pork-meat related business, which is of course a big no–no in Dubai. You can get to know more information on the operation of the Dubai Islamic Bank on their website or in person in one of their branch offices in Dubai.

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