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| {{Infobox company | {{Infobox company | ||
| | name = Sharjah Islamic Bank | | name = Sharjah Islamic Bank | ||
| | logo = |
| logo = | ||
| | logo_caption = Sharjah Islamic Bank | | logo_caption = Sharjah Islamic Bank | ||
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| '''Sharjah Islamic Bank''', formerly known as the National Bank of Sharjah, is a publicly listed ] headquartered in the ] of ] in the ].<ref>{{Cite web |title=Sharjah Islamic Bank’s net profit soars 13.9% in Q1 |url=https://www.khaleejtimes.com/finance/sharjah-islamic-banks-net-profit-soars-13-9-in-q1 |access-date=2022-10-20 |website=Khaleej Times |language=en}}</ref> The bank was established in 1976 and in 2004 converted into a fully Shariah compliant bank. The bank provides Sharia-compliant products and services to serve individuals, companies, institutions, and investors.<ref>{{Cite news |title=Sharjah Islamic Bank increases foreign ownership to 40 percent following regulatory approvals |work=Arabian Business |url=https://www.arabianbusiness.com/industries/banking-finance/sharjah-islamic-bank-increases-foreign-ownership-to-40-percent-following-regulatory-approvals |access-date=2022-10-20}}</ref> | '''Sharjah Islamic Bank''', formerly known as the National Bank of Sharjah, is a publicly listed ] headquartered in the ] of ] in the ].<ref>{{Cite web |title=Sharjah Islamic Bank’s net profit soars 13.9% in Q1 |url=https://www.khaleejtimes.com/finance/sharjah-islamic-banks-net-profit-soars-13-9-in-q1 |access-date=2022-10-20 |website=Khaleej Times |language=en}}</ref> The bank was established in 1976 and in 2004 converted into a fully Shariah compliant bank. The bank provides Sharia-compliant products and services to serve individuals, companies, institutions, and investors.<ref>{{Cite news |title=Sharjah Islamic Bank increases foreign ownership to 40 percent following regulatory approvals |work=Arabian Business |url=https://www.arabianbusiness.com/industries/banking-finance/sharjah-islamic-bank-increases-foreign-ownership-to-40-percent-following-regulatory-approvals |access-date=2022-10-20}}</ref> | ||
| As an Islamic bank, SIB operates in accordance with the principles of Sharia law.<ref>{{Cite web |title=Sharia Compliance |url=https://www.sib.ae/en/islamic-banking/sharia-compliance}}</ref> This means that it does not charge or pay interest, and it does not engage in any transactions that involve riba (usury), gharar (uncertainty), or maysir (gambling). Instead, SIB uses Islamic finance techniques such as profit-sharing, leasing, and partnership to provide its customers with financial services that are consistent with Sharia principles. | As an Islamic bank, SIB operates in accordance with the principles of ] law.<ref>{{Cite web |title=Sharia Compliance |url=https://www.sib.ae/en/islamic-banking/sharia-compliance}}</ref> This means that it does not charge or pay interest, and it does not engage in any transactions that involve riba (usury), gharar (uncertainty), or maysir (gambling). Instead, SIB uses Islamic finance techniques such as profit-sharing, leasing, and partnership to provide its customers with financial services that are consistent with Sharia principles. | ||
| In August 2021, Sharjah Islamic Bank announced the launch of a new digital account that allows customers use the smart bank application to open an electronic account without the need to visit the branch.<ref>{{Cite web |title=Sharjah Islamic Bank launches new digital account |url=https://www.gulftoday.ae/business/2021/08/15/sharjah--islamic-bank--launches-new--digital-account |access-date=2022-10-20 |website=www.gulftoday.ae}}</ref> | In August 2021, Sharjah Islamic Bank announced the launch of a new digital account that allows customers use the smart bank application to open an electronic account without the need to visit the branch.<ref>{{Cite web |title=Sharjah Islamic Bank launches new digital account |url=https://www.gulftoday.ae/business/2021/08/15/sharjah--islamic-bank--launches-new--digital-account |access-date=2022-10-20 |website=www.gulftoday.ae}}</ref> | ||
Latest revision as of 07:47, 9 December 2024
| Company type | Public |
|---|---|
| Traded as | ADX: SIB |
| Industry | Finance and Insurance |
| Founded | 1975; 49 years ago (1975) |
| Headquarters | Sharjah, UAE |
| Key people | Abdul Rahman Al Owais, Chairman Mohamed Abdalla, CEO |
| Products | Banking |
| Website | www |
Sharjah Islamic Bank, formerly known as the National Bank of Sharjah, is a publicly listed Islamic bank headquartered in the emirate of Sharjah in the United Arab Emirates. The bank was established in 1976 and in 2004 converted into a fully Shariah compliant bank. The bank provides Sharia-compliant products and services to serve individuals, companies, institutions, and investors.
As an Islamic bank, SIB operates in accordance with the principles of Sharia law. This means that it does not charge or pay interest, and it does not engage in any transactions that involve riba (usury), gharar (uncertainty), or maysir (gambling). Instead, SIB uses Islamic finance techniques such as profit-sharing, leasing, and partnership to provide its customers with financial services that are consistent with Sharia principles.
In August 2021, Sharjah Islamic Bank announced the launch of a new digital account that allows customers use the smart bank application to open an electronic account without the need to visit the branch.
Financial performance
For the year 2022, Sharjah Islamic Bank (SIB) has posted net profit of AED 650.9 million.
See also
References
- "Sharjah Islamic Bank increases foreign ownership of shares to 40%". Khaleej Times. Retrieved 2022-10-20.
- "Sharjah Islamic Bank's net profit soars 13.9% in Q1". Khaleej Times. Retrieved 2022-10-20.
- "Sharjah Islamic Bank increases foreign ownership to 40 percent following regulatory approvals". Arabian Business. Retrieved 2022-10-20.
- "Sharia Compliance".
- "Sharjah Islamic Bank launches new digital account". www.gulftoday.ae. Retrieved 2022-10-20.
- "Sharjah Islamic Bank records 27% jump in net profit in 2022 to reach AED650.9mn".
External links
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