What are your core business activities?
Sharjah Islamic Bank has recorded consistent earnings growth and built long term value by building on its core strengths and strategically expanding core business activities. These areas include Corporate Banking, Retail Banking, Government Finance and Investment Banking.
Where can I read current news releases?
We have an online archive of all media releases. Please click here to visit our Press Room and browse current and archived material.
What is Sharjah Islamic Bank’s current credit rating?
Sharjah Islamic Bank is rated by Capital intelligence (CI) has upgraded SIB’s foreign currency long-term rating to A-, from BBB+ in July 2008. The financial strength rating is affirmed at BBB+ reflecting the sound overall financials. All ratings carry a ‘Stable’ outlook. CI sited the bank’s good management, sound asset quality and strong, sustainable core profitability are underlying factors supporting the ratings. SIB raised sizeable capital this year. The funds will be used to drive the growth of the domestic network, overseas expansion, direct investments and the formation of new subsidiaries.
Standard & Poor’s Ratings Services (S&P) revised its outlook on Sharjah Islamic Bank in June 2008 to positive from stable, reflecting the bank’s recent capital increase and resilient financial performance. At the same time, Standard & Poor’s affirmed its ‘BBB’ long-term and ‘A-2′ short-term counterparty credit ratings on the bank.
Where can I learn more about Sharjah Islamic Bank’s history?
You can find out more about Sharjah Islamic Bank in the About SIB section of our website.
Where can I learn more about Corporate Governance?
Sharjah Islamic Bank are committed to the highest levels of operating standards.
What is Islamic Banking?
Islamic banking operates according to a set of rules and laws, collectively referred to as Shari’a, which guides economic, social, political and cultural aspects of Islamic societies.
What are the benefits of Islamic Banking?
As one of the first banks in the world to successfully convert to Islamic banking, Sharjah Islamic Bank has pioneered a wide range of flexible banking products and services compliant with Shari’a principles.
Can a non-Muslim bank with you?
Certainly, our customer base is truly reflective of the many mixed cultures and nationalities that exist in UAE society today. We have become the bank of choice for many individuals and corporate companies that do not come from an Islamic background, due to Shari’a principles of fair and honest banking that we adhere to. In fact, more than half of our customers are non-Muslims.
What is Islamic Personal Finance?
Personal Finance from Sharjah Islamic Bank allows you to manage your expenditure and finance the purchase of goods and services using Ijara and Murabaha structuring with peace of mind and no hidden costs.
Is Murabaha different from taking out a loan?
Murabaha literally means a sale on mutually agreed profit. Technically, it is a contract of sale in which the seller declares his cost and profit and therefore it is different from a conventional loan.
What is your Emiratisation policy?
Sharjah Islamic Bank are fully committed to Emiratisation and to date over 44% of our employees are Emirati Nationals. Please click here for further information regarding our Emiratisation policy.
Where are your branches located?
We have 22 branches located throughout the UAE. Please click here for a full list of our branch locations.