Dubai Islamic Bank (DIB), UAE


Dubai Islamic Bank (DIB) was founded in 1975 and is the first financial institution in the world to offer banking services in accordance with Islamic religious norms (Sharia law). Currently, DIB serves over 5 million clients in various countries and ranks 11th among the top 150 Arab banks in the Middle East.

The rating agency Fitch has assigned the bank a rating of A.

Account Types

Despite its focus on Islamic banking and the provision of corresponding services, DIB welcomes clients of all faiths.

The bank offers personal and corporate Al Islami accounts in various currencies, primarily AED and USD, with others available upon request.

Account Opening Cost (Bank Tariff)

Free for both individuals and legal entities.

The minimum balance for individual accounts is 3,000 AED, while for corporate clients, it ranges from 50,000 to 3,500,000 AED depending on the chosen service plan: e-trader, Al Islami Plus, Premium, Infinite, Ultimate. For high-risk activities or sanctioned citizenship of the company founder, DIB may require higher minimum balances regardless of the service plan or the purchase of additional banking products.

Account Management Through online banking, mobile application, DIB alt service, or by visiting one of the bank’s branches.
Maintenance Fees

Dubai Islamic Bank does not charge account maintenance fees if the minimum balance set for each service plan is maintained.

Personal Acccounts:

  • Incoming payments in AED or other currencies: No commission.
  • Outgoing payments:
    • To other DIB clients: Free of charge.
    • Transfers within the Emirates to other banks: From 1.5 AED depending on the transaction type.
    • Transfers to foreign banks: From 36.75 AED.

Corporate Accounts:

  • DIB does not charge additional fees for receiving incoming payments in dirhams or other currencies.
  • Transfers in AED within the Emirates: From 1.05 AED to 52.5 AED depending on the service plan.
  • Transfers in foreign currency: From 26.25 AED to 52.5 AED depending on the service plan.
  • Fee for opening access to corporate internet banking: From 263 AED to 1050 AED depending on the service plan, then 1050 AED annually. The cost of issuing a cheque book for the account is 3150 AED.

For more details on banking service costs, please refer to the links above. The current size of commissions and other fees should also be verified on the bank’s website.

Staff Primarily fluent in Arabic, English, and Hindi.
Credit/Debit Cards

Dubai Islamic Bank issues Visa debit cards and Sharia-compliant credit cards free of charge.

Cash Withdrawal Fees for Debit Cards:

  • At DIB ATMs: No commission.
  • At other ATMs within the UAE: 2 AED per transaction.
  • At ATMs in GCC countries: 6 AED.
  • At ATMs in other countries: 21 AED.

For Corporate Clients:

  • Cash withdrawals at DIB ATMs in the Emirates: No commission.
  • At other ATMs in the UAE: 2 AED.
  • The fee for processing international transactions in AED is 2.09%, in addition to the standard processing fee charged by the Visa payment system. For more details on banking service costs, please refer to the links above. The current size of commissions and other fees should also be verified on the bank’s website.
Other Banking Products DIB offers a wide range of additional Islamic banking services in accordance with Sharia principles. These include halal equivalents of traditional bank deposits and loans for various needs, as well as options for trade finance and investment products for businesses.
Documents for Account Opening

For Individuals:

  • Passport;
  • Emirates ID;
  • Residence visa;
  • Mobile number in the Emirates;
  • In some cases, the bank may require employment confirmation from the employer or statements from other bank accounts if the person is a company owner. The latter also needs a rental agreement for an apartment or other residential premises in the UAE; sometimes it is requested from ordinary employees of the company.

For Legal Entities:

  • Main incorporation documents of the company: registration certificate, license, charter, memorandum of association, or other documents;
  • Copies of passports of directors, shareholders, and beneficiaries, as well as account signatories and company secretaries (if any);
  • If another legal entity acts as a director, shareholder, or secretary of the company, all the above documents must be provided for it as well;
  • Statement for the last 6 or 12 months for the company’s corporate accounts in banks outside the UAE;
  • For newly registered companies: a statement from the shareholder’s account confirming the availability of funds sufficient to start the business;
  • Proof of residence of the founders in the UAE.

The bank also reserves the right to request any other documents deemed necessary for KYC/AML procedures, such as the company’s business plan, proof of the source of funds, etc.

Account Opening Procedure

A personal visit by the company founder or account signatory to the bank branch is required to sign all necessary documents. Like other major banks in the Emirates, DIB conducts a thorough compliance check of its clients, especially when connections to sanctioned jurisdictions are identified.

We are ready to assist in opening a bank account at Dubai Islamic Bank, supporting the process at every stage.

Account Opening Duration From 30 days to several months depending on the completion of bank compliance procedures.
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The purpose of the initial consultation is to introduce you to our services, as well as to discuss your individual needs related to company registration (maintenance) and opening a bank account.