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02 Nov 2020

DIB Account Review

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Dubai Islamic Bank- Background and Overview-

Dubai Islamic Bank (DIB) is one of the biggest Islamic Banks in the UAE that provides a wide range of products and services which comply with Sharia. DIB was founded in 1975 and now has its presence over 66 branches across the UAE, catering to over 2 million customers. DIB is a public sector bank and is listed on the Dubai Financial Market. The bank caters to both, UAE nationals and expatriates and offers a wide range of retail and commercial services such as Bank Accounts, loans, investments, etc.

Types of Bank Accounts offered by Dubai Islamic Bank-

UAE nationals and expatriates can open the following types of accounts with Dubai Islamic Bank-
  • Current Account

  • Savings Account

  • 2-in-1 Accounts

  • Foreign Currency Account

  • Al Islami Payroll Account

In the retail space, DIB provides a wide range of services including Auto Finance, Personal Finance, Home Finance, Deposits, Accounts, etc.

In the Business banking space, A wide range of products and services are offered for Corporates, SME’s, Treasury and Institutions, etc. DIB provides services such as business finances (loans), investment avenues through the bank in either hedging instruments or high returns instruments, foreign exchange, etc.

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DIB Online-

DIB Online or Dubai Islamic Bank online is a comprehensive online banking facility provided to customers. Through DIB Online Banking, customers can get access to over 100 fast and secure services such as bill payments, e-Government Services, instant money transfers, etc.

In order to register for Dubai Islamic Bank online, existing account holders can sign up by providing their registered mobile number along with their Debit/Credit Card number and the Card PIN. Upon providing these, customers can create their Dubai Islamic Bank online banking account.

DIB Interest Rates- (AED- UAE Dirham)

Account Type 2nd Quarter 2020 1st Quarter 2020 4th Quarter 2019 3rd Quarter 2019
Saving Account0.15% (p.a)0.19% (p.a)0.20% (p.a)0.22% (p.a)
E-Saving Account0.28% (p.a)0.38% (p.a)0.39% (p.a)0.42% (p.a)
2-in 1 Account0.15% (p.a)0.15% (p.a)0.16% (p.a)0.17% (p.a)
Shaatir Savings Account0.33% (p.a)0.43% (p.a)0.44% (p.a)0.47% (p.a)
1 Year Investment Deposit1.25% (p.a)1.37% (p.a)1.47% (p.a)1.57% (p.a)
9 Months Investment Deposit1.07% (p.a)1.17% (p.a)1.27% (p.a)1.37% (p.a)
6 Months Investment Deposit0.97% (p.a)1.07% (p.a)1.17% (p.a)1.27% (p.a)
3 Months Investment Deposit0.87% (p.a)0.97% (p.a)1.07% (p.a)1.17% (p.a)
1 Month Investment Deposit0.70% (p.a)0.80% (p.a)0.90% (p.a)1.00% (p.a)
Corporate Savings Account0.15% (p.a)0.19% (p.a)0.20% (p.a)0.22% (p.a)

Dubai Islamic Bank near me-

For the ones looking for ‘Dubai Islamic Bank near me’, we’ve compiled a list of Dubai Islamic Bank branches-

City Branch Name Timings
DubaiMain Branch - AlShola8:00 AM to
2:00 PM
Al Mamzar
Al Dhiyafah
Shaikh Zayed Rd
Umm Suquem
Dubai Internet City
Nad Al Hamar
Dubai International City
Oud Metha
Al Tawar
Bur Dubai
Al Souq
Al Nahda
Ras Al Khor
Wajaha Centre (Al Maktoum Road)
Emirates Coop
Dubai Waterfront Market
Business Bay
Emirates Headquarter
Al Barsha - Al Ittihad Mall10:00 AM to
10:00 PM
Al Etihad Mall – Al Muhaisnah
Dubai Mall
Mall Of the Emirates
Mirdif City Center
Ibn Battuta Mall
Reef Mal
Abu DhabiAbu Dhabi Main8:00 AM to
2:00 PM
Al Khalidiyah
Madinat Zayed
Al Salam
Bawabat Al Sharq Mall10:00 AM to
10:00 PM
Deerfields Mall
Dalma Mall
Al Wahda Mall
Al AinAl Ain Main8:00 AM to
2:00 PM
Al Ain Mall
Boutique Mall10:00 AM to
10:00 PM
Al Foah Mall
AjmanAjman Main
8:00 AM to
2:00 PM
Al Hamidiya8:00 AM to
8:00 PM
FujairahFujairah Main8:00 AM to
2:00 PM
Khor Fakkan
Ras Al
Rak Main8:00 AM to
2:00 PM
SharjahSharjah Main8:00 AM to
2:00 PM
Al Dhaid
Clock Tower - Sharjah
Wasit Street
Al Madam
Al Taawun
Tasjeel8:00 AM to
8:00 PM
Al Qarrain
Sharjah City Center
Sahara Mall
10:00 AM to
10:00 PM

DIB Review-

Overall, Dubai Islamic Bank, carrying a massive reputation, offers customers safety and reliability. However, the interest rates offered by the Bank on deposits can be significantly inferior to the ones offered by several other banks and the customer service has a relatively low rating here as well

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.