How to open a bank account in Dubai Islamic Bank

• the world’s first full-service Islamic bank and the second largest Islamic bank in the world, founded in 1975;
• the bank opens savings (deposit) and current accounts;
• the bank opens accounts for local companies (Mainland, Free Zone Company), as well as personal accounts for residents;
• the bank does not open accounts for non-Emirati companies;
• minimum balance for account opening – from AED 50 000 (~ USD 13 600), AED 250 000 (~ USD 68 000), AED 500 000 (~ USD 136 000) and AED 3 500 000 (~ USD 953 000) – depending on the tariff;
• a visit of the account signatory (and sometimes shareholders) to the UAE is required to open an account;
• available currencies: AED, USD, EUR, GBP;
• bank cards are issued;
• pre-approval is possible before the account opening process;
• transfer fee is AED 63 (~ USD 17)*;
• Internet Banking in English (annual fee is AED 1 050 (~ USD 285) + additional fee for activation);
• account opening time: from 1-2 weeks.

*The rates shown are approximate as they may ultimately differ depending on the service program chosen by the client in the bank.