Everything You Need to Know About Dubai Islamic Bank

20 Aug 2024
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Dubai Islamic Bank

In the UAE, whether you are a visitor or resident, Banks are reliable and prefer options that offer financial services. Dubai Islamic Bank (DIB) is the first Islamic bank in Dubai that can manage your finances. It was founded in 1975 and is the leading financial institution aligned with Islamic principles. Moreover, the dedication of Dubai Islamic Bank to customer satisfaction and Sharia-compliant banking enhances your experience. In this detailed blog, we will explore services, account openings, and tips for maximizing your experience with Dubai Islamic Bank.

Services Offered by Dubai Islamic Bank

Dubai's Biggest Islamic Bank Weighs Acquiring Local Rival - Bloomberg

Account Type	Account Opening Fee	Monthly Maintenance Fee	Minimum Balance Requirement	Overdraft Charges	Other Fees
Current Account	AED 0	AED 0	AED 3,000	AED 100 per transaction	Checkbook: AED 50 per book
Savings Account	AED 0	AED 0	AED 3,000	Not allowed	Withdrawal beyond limit: AED 10
Premium Savings Account	AED 0	AED 0	AED 10,000	Not allowed	Withdrawal beyond limit: AED 25
Fixed Deposit Account	AED 0	AED 0	AED 10,000	N/A	Early withdrawal penalty: 1% of amount withdrawn

Personal Banking

Dubai Islamic Bank provides an extensive range of savings/current accounts that cater to various needs of customers. In this reputable bank, you can avail the option of top services like home financing and personal financing options. Moreover, you can also experience Sharia-compliant credit cards that offer various rewards and cashback.

Business Banking

Dubai Islamic Bank allows you to experience customized business accounts for large corporations and various financing options. Moreover, in this bank, customers can also avail of the option of services like Sharia-compliant corporate credit cards.

Digital Banking

In Dubai, if you choose Dubai Islamic Bank then you can 24/7 manage your account and make transactions from anywhere. Moreover, the bank also allows you to access your account with their easy-to-use mobile banking app in this city.

Branches of Dubai Islamic Bank in the UAE

Dubai Islamic Bank - Investment Corporation of Dubai

City	Branch	Contact No	Operating Hours
Dubai	DIB - Main Branch	+971 4 609 2222	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Dubai	DIB - Deira Branch	+971 4 295 0111	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Abu Dhabi	DIB - Khalidiya Branch	+971 2 681 0000	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Abu Dhabi	DIB - Al Ain Branch	+971 3 751 7777	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Sharjah	DIB - Al Wahda Branch	+971 6 569 4411	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Ajman	DIB - Ajman Branch	+971 6 746 2211	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Ras Al Khaimah	DIB - RAK Branch	+971 7 227 8888	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Fujairah	DIB - Fujairah Branch	+971 9 222 7888	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed
Umm Al Quwain	DIB - Umm Al Quwain Branch	+971 6 765 4333	Sun-Thu: 8:00 AM - 3:00 PM, Fri: Closed

The branches of Dubai Islamic Bank ensure that you can enjoy Sharia-compliant banking experiences in various cities of the UAE. Dubai Islamic Bank allows you to open savings/current accounts, personal financing options, and other banking needs in this country.

How to Create an Account with Dubai Islamic Bank

Method	Process	Advantages	Considerations	Fee
Online Application	Fill form online, upload docs, submit	Convenient, fast	Requires document upload	AED 0
Branch Visit	Visit branch, fill form, submit docs	Personal assistance	Requires branch visit	AED 0
Phone Banking	Call, provide details, email/post docs	Direct assistance via phone	Additional steps for docs submission	AED 0
Mobile Banking App	Use app to fill form, upload docs	Convenient, mobile access	Secure mobile device required	AED 0

Using the DIB Mobile Banking App

If you are willing to create an account with Dubai Islamic Bank then their app is a comfortable and smooth option.

Download the DIB App: To create an account, you can use the DIB mobile app after downloading it from the App Store or Google Play (for Android).

Register or log in: After downloading, you have to register or log in to start the process.

Navigate Account section: After login, you have to find the section that is normally labeled as “Open Account''.

Select the Account Type: Then you have to choose the type of account that you are willing to open.

Upload Documents: In this step, you have to provide your have to upload the documents according to instructions.

Submit Application: Now you have to submit an application through the app.

Account Activation: At last, upon approval of your application, you will receive confirmation and account details on the app. Moreover, after verification now it's time to set up your account.

Tips for Banking with Dubai Islamic Bank

Internet Banking Tips

Stay Updated with Promotions

It is vital to check DIB’s promotion as it offers you the benefit of reduced fees and higher profit rates.

Leverage Loyalty Programs

Always remember to enroll in the Dubai Islamic Bank loyalty programs, as it allows you to earn rewards and cashback.

Understand Sharia Compliance

An understanding of the principles of Islamic banking allows you to make informed financial decisions. So, if you understand concepts like Murabaha, Ijarah, and Sukuk it offers you peace of mind.