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USD $79.5 billion (2023 [1]) Number of employees. 10,000 [1] Website. www .dib .ae. The Dubai Islamic Bank ( DIB) is an Islamic bank in Dubai, established in 1975 by Saeed Bin Ahmed Lootah. It is the first Islamic bank in the world to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the United ...
Bank Name Bank name (in Arabic) Headquarters Stock code (if applicable) Abu Dhabi Commercial Bank: بنك أبوظبي التجاري: Abu Dhabi: ADX: ADCB: Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank was established on 20 May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11 November 1998, and was formally inaugurated by Abdullah Bin Zayed Al Nahyan, UAE Minister of Information and Culture on 18 April 1999.
On 1 December 2012 Dubai Bank was acquired by Emirates NBD. [3] [4] [5] As of 31 December 2020, total assets were AED 698 billion, deposits of AED 464 billion, a total income of AED 23.21 billion, and a net profit of AED 7 billion, making it one of the top financial institutions of the UAE, with a brand value of $3.89 billion.
Sheikh Tahnoun bin Zayed Al Nahyan, Chairman. Owner. Abu Dhabi Investment Council Company (33.3%) [1] Website. www .bankfab .com. First Abu Dhabi Bank (FAB) ( Arabic: بنك أبوظبي الأول) is the largest bank in the United Arab Emirates. It was formed following a merger between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD).
Dubai Banking Group is the global shari'a compliant financial investor of Dubai Group with assets valued at over USD 10 billion (AED 36.7 billion). The group was established in 2007 when Dubai Islamic Investment Group, founded in 2004, and Dubai Bank , founded in 2002, consolidated their activities to form Dubai Banking Group.
C. Central Bank of the United Arab Emirates. Citibank United Arab Emirates. Commercial Bank of Dubai.
Islamic banks often use "parallel" salam contracts and acting as a middleman. One contract is made with a seller and another with a purchaser to sell the good for a higher price. Examples of banks using these contracts are ADCB Islamic Banking and Dubai Islamic Bank. Basic features and conditions of a proper salam contract