Overview
SIB launches strategic Rights Issue to raise gross proceeds of up to AED 2.59 billion
Sharjah Islamic Bank PJSC (“SIB” or the “Bank”) has published on 14 February 2026 the invitation to the Annual General Meeting (“AGM”) proposing to increase its capital through a strategic rights issue aimed at raising gross proceeds of up to AED 2.59 billion. This initiative marks a decisive step to accelerate the pace of the Bank’s strong organic growth and deliver substantial long-term value for shareholders
This website serves as a central resource for information regarding the Rights Issue. Here, you’ll find key documents, learn more about SIB, and details related to the Rights Issue.
Rationale for the capital increase
The rights issue provides shareholders with an opportunity to participate in the Bank’s continued success, through the subscription for new shares. This strategic initiative will serve the interests of the Bank and its shareholders by enhancing capacity to achieve significant asset growth, whilst remaining ahead of evolving regulatory requirements as the Bank continues to focus on delivering strong and sustainable returns.
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SIB intends to use the net proceeds raised from the rights issue to strengthen its capital base well-beyond regulatory capital adequacy requirements, extend runway for balance sheet growth and maintain attractive shareholders returns.
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Message from the Chairman
H. E. Abdulrahman Mohamed Nassir Salem Alowais
"This milestone announcement is testament to our long-term commitment to our shareholders and the UAE investor community. We are pleased to offer our valued and loyal shareholders the opportunity to participate in our continued growth and success as we remain key partners to the growth agenda of the UAE and it’s leadership"
Rights Issue
Supported by the Bank’s majority shareholder
The Government of Sharjah holding a significant stake in SIB through Sharjah Asset Management LLC and Sharjah Social Security Fund, has confirmed its full support to the capital increase through rights issuance which is a testament of its support to the Bank’s future ambitions.
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Transaction Details: The proposed rights issue will increase SIB’s issued capital from AED 3,235,677,638 up to AED 4,314,236,850 through the issuance of up to 1,078,559,212 new shares.
The new shares will be issued at an issue price of AED 2.40 per new share, reflecting the nominal value of AED 1.00 per new share and a share premium of AED 1.40 per new share.
This represents a discount of 37% to the closing share price of SIB’s shares on the Abu Dhabi Securities Exchange as of 13 February 2026.
The rights issue has received all necessary approvals from the Central Bank of the UAE and the Capital Markets Authority.
ISIN: AES000201013 Scrip Code: SIBRI26 |
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| Transaction details | ||
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| Subscription price: AED 2.40 per new share | Offered shares: up to 1,078,559,212 | Subscription ratio: Eligible shareholders will receive rights entitling them to subscribe for one new share for every 3 existing shares held |
SIB at a glance
We deliver long-term value and enhance the financial health to all our customers with a range of specialized products and services.
SIB is a UAE-based Islamic financial institution headquartered in the Emirate of Sharjah. The Bank was established in 1975 pursuant to an Amiri Decree issued by H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and converted fully to Islamic banking operations in 2002. SIB Group also offers brokerage, real estate, property management and hospitality services.
The Bank maintains a solid capital position, a stable funding profile, and prudent liquidity management, underpinned by a diversified deposit base and a conservative risk approach, translating in strong and growing profitability.
SIB offers a broad range of Shariah-compliant banking products and services across its core business segments, including Retail Banking, Business Banking, and Corporate & Investment Banking. The Bank has experience in Islamic financing solutions and Sukuk issuance and serves a diversified customer base across the UAE.
The Bank operates 33 branches strategically located across the UAE and 1 digital branch, ensuring accessibility and convenience for its growing customer base.
| SIB 2025 Financial Highlights | ||
|---|---|---|
| Total Operating Income | Net Profit | Total Assets |
| AED 2.5 Bn | AED 1.3 Bn | AED 90.3 Bn |
| Coverage Ratio | Non-performing Assets | Cost to Income | CET 1(ex-dividend) |
|---|---|---|---|
109% (+10% YoY) | 3.8% (-110 bps YoY) | 36.1% | 11.9% |
SIB Subscription Options and Steps
Important Information
HideWhich branches are open for subscription?
*Subscription applications are available at any of the branches of SIB listed below.
| Branch | Address | Subscription Timing | ||
| Sharjah Main Branch | Al Khan Area, Near Al Qasba Canal, Sharjah Islamic Bank Tower | Monday – Saturday 8:00 AM to 2:30 PM Friday 7:15 AM to 11:45 AM | ||
| Al Khalidya Branch | Mubarak Bin Mohamad Road, Shining Tower | Monday – Saturday 8:00 AM to 2:30 PM Friday 7:15 AM to 11:45 AM | ||
| Hazza'a Bin Zayed Stadium Branch | Hazza'a Bin Zayed Stadium | Monday – Saturday 8:00 AM to 2:30 PM Friday 7:15 AM to 11:45 AM | ||
| Sheikh Zayed Road Branch | Sheikh Zayed Road, Nassima Tower Next to Voco Hotel | Monday – Saturday 8:00 AM to 2:30 PM Friday 7:15 AM to 11:45 AM | ||
| Fujairah Branch | Hamad Bin Abdullah Road | Monday – Saturday 8:00 AM to 2:30 PM Friday 7:15 AM to 11:45 AM | ||
| Ras al Khaimah Branch | Al Nakheel Area, Al Muntasir Road | Monday – Saturday 8:00 AM to 2:30 PM Friday 7:15 AM to 11:45 AM | ||
| Matajer Al Jurainah Branch | Matajer Al Jurainah, Al Juraina Area Near University City Area | Monday - Saturday (excluding Friday) 10:00 AM - 4:00 PM | ||
*Subscription closing date for payment through Manager’s Cheque: May 6 2026 (on or before 12pm)
How do I subscribe through Mobile Banking?
For Individual Customers Only
- Log in through SIB Digital App
- From the main menu, click on “More”
- Select “IPO Subscription”
- Select available IPO
- Enter the National Investor Number (NIN)
- Click on “Search” to validate
- Select the Broker
- Select the Debit Account and enter the Amount
- Agree to the Terms & Conditions then click on “Continue”
- Review the details and authorize the transaction using your biometrics
- You will receive IPO subscription confirmation with reference number, email and SMS
How do I subscribe through Online Banking?
For Individual Customers Only
- Log in to SIB Online Banking
- Click on “More”
- Select “IPO Subscription”
- Click on “Subscribe”
- Select available IPO
- Enter the National Investor Number (NIN)
- Click on “Search” to validate
- Select the Broker
- Select the Debit Account and enter the Amount
- Agree to the Terms & Conditions then click on “Continue”
- Review the details and authorize the transaction with OTP
- You will receive IPO subscription confirmation with reference number, email and SMS
Be a Shareholder
SIB Customer without National Investor Number (NIN)
Create NIN through SIB Branches
Original EID- Original Passport
- Khulasat Al Qaid or Family Book for UAE Nationals
- Visa page for Expat
- Stamped IBAN certificate
*SIFS trading account opening and NIN issuance will take 2 business days, then customer need to visit the branch again for Rights Issue subscription
Create National Investor Number (NIN) through ADX
- Download ADX App
- Follow the registration steps
SIB Customer with National Investor Number (NIN)
- Valid/Active Account with SIB
- National Investor Number NIN
- SIFS Account
- Original valid Emirates ID should be presented
Not a Sharjah Islamic Bank Customer
- Valid Manager’s Cheque, issued by a UAE Bank in AED, in favour of “Sharjah Islamic Bank PJSC – Rights Issue
- National Investor Number NIN
- Share broker Account or SIFS Account
- Original valid Emirates ID should be presented
Related Documents
Frequently Asked Questions
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