Sharjah Islamic Bank was established in 1975 to provide commercial banking services to companies and individuals. Formed under an Amiri decree issued by H. H. Dr. Sultan Bin Mohammed Al Qassimi, Member of the UAE Supreme Council and Ruler of Sharjah, the bank was originally founded as National Bank of Sharjah and became the first bank in the world to effectively convert to Islamic banking in 2002.
The change from traditional banking to Islamic banking was a significant turn for the bank. Not only were specialised products and services devised for customers, but all of the bank’s accounting and information systems were converted to conform to Islamic regulations.
A Fatwa and Sharia’a Board comprising of several renowned Islamic scholars and specialists in Islamic law and banking were elected to advise on product development and oversee training and services conform to the highest standards and within the regulations of Islamic finance.
Employees were trained to adapt and assimilate the new system and offer customers the best service. A dedicated branch and special sections within existing branches were also introduced to provide ladies with separate and private facilities to conduct banking in a convenient manner.
Since its inception, Sharjah Islamic Bank has gone from strength to strength. Today, the bank has a rapidly expanding network of 25 branches throughout the UAE supported by a growing number of ATM’s and EDM’s located in convenient and popular business, shopping and leisure destinations.
Sharjah Islamic Bank takes a proactive and responsible approach to its economic and social role in developing society. The bank ensures that banking systems and services offered adhere to economic and financial development and are shaped by moral, social and religious beliefs to meet the needs and requirements of a wide and diversified customer base.