Sharjah Islamic Bank, Formerly Sharjah National Bank, Is A Listed Islamic Bank Headquartered In The Emirate Of Sharjah, United Arab Emirates. The Bank Was Established In 1976 And Transformed Into A Fully Shariah Compliant Bank In 2004. The Bank Offers Shariah Compliant Products And Services To Individuals, Companies, Institutions And Investors.
As An Islamic Bank, SIB Operates In Accordance With The Principles Of Shariah Law. This Means That It Does Not Charge Or Pay Interest And Is Not Involved In Any Transactions Involving Riba (usury), Gharar (uncertainty) Or Maysir (gambling). Instead, The SIB Uses Islamic Financial Technologies Such As Profit Sharing, Leasing And Partnerships To Provide Its Customers With Financial Services Compliant With Sharia Principles.
In August 2021, The Islamic Bank Of Sharjah Announced The Launch Of A New Digital Account That Allows Customers To Open Electronic Accounts Using A Smart Banking App Without Having To Travel To A Branch.
Financial Results
In 2022, The Islamic Bank Of Sharjah (SIB) Recorded A Net Profit Of 650.90 Million Dirhams
