We provide assistance in opening bank accounts at Dubai Islamic Bank (DIB), a prominent UAE bank. Information about DIB is for informational purposes and is subject to change.
History |
Dubai Islamic Bank (DIB) was founded in 1975 and is the first financial institution in the world to offer banking services in accordance with Islamic religious norms (Sharia law). Currently, DIB serves over 5 million clients in various countries and ranks 11th among the top 150 Arab banks in the Middle East. The rating agency Fitch has assigned the bank a rating of A. |
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Account Types |
Despite its focus on Islamic banking and the provision of corresponding services, DIB welcomes clients of all faiths. The bank offers personal and corporate Al Islami accounts in various currencies, primarily AED and USD, with others available upon request. |
Account Opening Cost (Bank Tariff) |
Free for both individuals and legal entities. The minimum balance for individual accounts is 3,000 AED, while for corporate clients, it ranges from 50,000 to 3,500,000 AED depending on the chosen service plan: e-trader, Al Islami Plus, Premium, Infinite, Ultimate. For high-risk activities or sanctioned citizenship of the company founder, DIB may require higher minimum balances regardless of the service plan or the purchase of additional banking products. |
Account Management | Through online banking, mobile application, DIB alt service, or by visiting one of the bank’s branches. |
Maintenance Fees |
Dubai Islamic Bank does not charge account maintenance fees if the minimum balance set for each service plan is maintained.
For more details on banking service costs, please refer to the links above. The current size of commissions and other fees should also be verified on the bank’s website. |
Staff | Primarily fluent in Arabic, English, and Hindi. |
Credit/Debit Cards |
Dubai Islamic Bank issues Visa debit cards and Sharia-compliant credit cards free of charge. Cash Withdrawal Fees for Debit Cards:
For Corporate Clients:
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Other Banking Products | DIB offers a wide range of additional Islamic banking services in accordance with Sharia principles. These include halal equivalents of traditional bank deposits and loans for various needs, as well as options for trade finance and investment products for businesses. |
Documents for Account Opening |
For Individuals:
For Legal Entities:
The bank also reserves the right to request any other documents deemed necessary for KYC/AML procedures, such as the company’s business plan, proof of the source of funds, etc. |
Account Opening Procedure |
A personal visit by the company founder or account signatory to the bank branch is required to sign all necessary documents. Like other major banks in the Emirates, DIB conducts a thorough compliance check of its clients, especially when connections to sanctioned jurisdictions are identified. We are ready to assist in opening a bank account at Dubai Islamic Bank, supporting the process at every stage. |
Account Opening Duration | From 30 days to several months depending on the completion of bank compliance procedures. |