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Dubai Islamic Bank

Middle-East : Dubai : Life in Dubai : Dubai Finance

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 10 more offices in the area of the United Arab Emirates by the end of 2011.

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.