Banking & Financing

Banking and Financing in Dubai

The Emirate city of UAE, Dubai has four different types of banks. Commercial Banks, Merchant Banks, Industrial Banks, and Islamic Banks. If you are planning to invest your finances in Dubai, here is a definite guide to Banking and Financing in Dubai. There is no lack of banks in Dubai. And many banks follow the principles of Islamic banking in different regions of the UAE.

Whether you are an expat in UAE or a business investor looking for the perfect bank to support you. Dubai offers more to you with some of the best banking and Financing services in the world. Investigating in a bank with a reputation and professional advancement will prove to be beneficial for you.

Top 5 Dubai Based Banks

Emirates NBD in Dubai

The Emirates NBD is one of the largest groups of banking in the UAE. The government-owned bank was established in 2007 when it’s shares were officially listed in the Dubai Financial Market. The bank is recognized as the largest employer in Dubai with 10000 employees with 70 nationalities being employed. In 2004, the Emirates NBD launched its first line of Islamic banking services and it is one of the four banks in the UAE that provides Islamic banking services. The bank specializes in different business segments: retail banking, wealth management, wholesale banking, Islamic banking, international, and information technology operations. As of 2018, the bank carries a net income of USD$136.00 Billion.

The bank currently manages 220 branches and over 9000 ATMs/ Cash deposit machines in the UAE and worldwide. It operates in the UAE, Egypt, the Kingdom of Saudi Arabia, India, the United Kingdom and it consists of representatives in China and Indonesia.

Mashreq Bank in Dubai

Founded in 1967, Mashreq Bank is the oldest private-owned bank in the UAE, with the headquarters located in Dubai. The Mashreq bank was later known as the Bank of Oman. It is also the first bank that installed ATM cash dispensers in the UAE and the first to issue debit/credit cards. They were also the first bank to introduce consumer loans. Mashreq bank branches out to the overseas and has 12 offices in 9 countries: Europe, North America, Asia, and Africa. Along with branches in Egypt, Qatar, Kuwait, Bahrain.

The Mashreq bank provides retail banking services, commercial banking, investment banking, brokerage services, and asset management services. The bank is currently offering Islamic banking and financing services for personal, including corporate finance and investment advisory on mergers and acquisitions. With revenue of USD$2.21 billion the bank employs 4000 workers.

Commercial Bank of Dubai – CBD

Listed as the 35^th largest bank in the Persian Gulf, the bank holds a reputation for being one of the top banks in Dubai. It was founded in 1969 and was a joint venture of Commerzbank, Manhattan bank, and the commercial bank of Kuwait. It evolved into a national public shareholding company offering retail banking, SME finance, and Islamic Banking services. The bank introduced its sharia-compliant banking named Attijari Al Islami in 2014. And launches the region’s first Visual assistant and persona financial and personal assistance management tools.

Dubai Islamic Bank – DIB

The first bank to incorporate Islamic banking services in Dubai. The bank was established in 1975 with its headquarters located in Dubai. DIB is known as the best Islamic bank for its prestigious services. The bank offers a diverse service in many business segments: Retail banking, corporate banking, consumer banking, Real estate development, treasury, investment banking as well as CSR and consultancy services. The bank holds 90 branches across the country with its presence in 7 markets worldwide.

The Bank established in Pakistan called the DIB Pakistan Limited, the first Islamic bank in Pakistan. DIB also launched in Indonesia in 2017 as the Panin Dubai Syariah Bank marking the banks first venture in the Far East

Noor Islamic Bank

Noor Bank previously known as the Noor Islamic Bank is owned is a privately owned bank. It features a range of different services including banking, investing, and financial and risk management products and services for individuals. Noor Bank has branches in Dubai, Abu Dhabi, Al Ain, and Sharjah.

International Banks in Dubai

• HSBC Bank Middle East
• CITI Bank Dubai
• Standard Chartered Bank

Other Local Banks in the UAE with branches in Dubai

• Abu Dhabi Islamic Bank
• First Abu Dhabi Bank
• RAK Bank