Dubai Islamic Bank is headquartered in Dubai and is among the top 5 largest banks operating in the UAE and is the largest Islamic Bank in the country and the second largest globally. The banks asset base is significantly greater than other Islamic Banks in the UAE; specifically, it is almost double the size of Abu Dhabi Islamic Bank, more than four times the size of Emirates Islamic Bank, and almost six times the size of Sharjah Islamic Bank. The bank was founded in 1975 and claims to be the world’s first full service Islamic Bank. Dubai Islamic Bank serves more than 3 million customers globally and employs over 10,000 people. The bank primarily serves corporate customers but has a significant consumer customer base. The bank currently has 54 branches and 583 ATMs across the UAE, and also has operations in Pakistan, Turkey, Bosnia, Sudan, Kenya and Indonesia. Click here to view a listing of the bank’s branches including its branch in Ajman. One of the banks stated goals is to make Islamic Finance the norm rather than conventional banking worldwide.
Dubai Islamic Bank is publicly traded and the majority of its ownership is public. The Investment Corporation of Dubai does maintain a 28% ownership of the bank. The bank has a number of active subsidiaries:
- Tamweel (92% owned)
- Dar Al Sharia (100% owned)
- Bank of Khartoum (30% owned)
- DIB Bank Kenya Limited (100% owned)
- Noor Bank (100% owned) – this bank was acquired by Dubai Islamic Bank in January 2020.
- Deeyar (45% owned)
The chart below is a quick summary of the trends in the banks financial metrics in recent years.
Dubai Islamic Bank SWIFT Code and Routing Number
- SWIFT Code: DUIBAEAD
- Bank Code: DUBI is the bank code for Dubai Islamic Bank
- Routing Number: 802420101
Services offered by Dubai Islamic Bank:
- Consumer Accounts (Current, Savings)
- Auto Finance
- Home Finance
- Credit Cards (Emirates Skywards and others)
The majority of the banks lending activities is targeted at corporate and real estate. As of December 2021, 51% of the bank’s customer financing was to corporations the remainder consisting of loans for real estate purposes (23%) and 26% for consumers.
Contact Information For Dubai Islamic Bank
- Headquarters: Emirates Headquarters, Dubai
- Phone Number: 046012317
- Fax Number: 042565329