H.E Tamim Salim Al Riyami, Chairman of the Municipal Council in Dibba Al Hisn, inaugurated a new branch of the Sharjah Islamic Bank (SIB) in Dibba Al Hisn on Monday, 1 November.

The inauguration ceremony was attended by H.E Othman Sharif Zaman, Member of the SIB’s Board of Directors, H.E Mohammed Abdullah, CEO of SIB, a group of the bank’s senior officials, as well as government representatives and special guests.

Abdullah explained that the opening of the new branch in Dibba Al Hisn comes under the directions of the Board of Directors, and that it is in line with the bank’s strategy to expand its network in the country while offering the best banking services to its clients. He added that the new branch is strategically situated near government departments.

He said further that the new branch proves the bank’s keenness to exist in this region, and that this new branch is a strategic necessity determined by the bank to ensure a presence in all the important regions across the country.

He added that the bank will spare no effort to further increase its clients’ confidence, to develop its services, and to maintain its leading position.

Said Abdullah: “With the increasing demand for Islamic banking services, we have no option but to exert more effort to cater to the needs of various social groups. From this new branch, the bank will continue to offer banking services and products such as the opening of accounts, Murabaha, current and saving accounts, investment deposits, financing services and leasing services, among other Shari’a compliant offerings. The Dibba Al Hisn branch will bring the total number of branches located across the UAE to 23.

Since its successful transition from conventional to Islamic banking in 2002, Sharjah Islamic Bank has offered a variety of Shari’a compliant products that cater to the needs of individuals, companies, institutions, as well as investment and international banking services. As a result of well considered strategies and careful planning based on risk management and cost control, SIB has seen unprecedented growth. The bank currently has 23 branches located across the UAE, in addition to more than 100 ATM and deposit machines installed in residential districts and other vital areas such as shopping malls and entertainment centers.