Sharjah Islamic Bank
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Sharjah Islamic Bank, formerly known as the National Bank of Sharjah, is a publicly listed
As an Islamic bank, SIB operates in accordance with the principles of Sharia law.[4] This means that it does not charge or pay interest, and it does not engage in any transactions that involve riba (usury), gharar (uncertainty), or maysir (gambling). Instead, SIB uses Islamic finance techniques such as profit-sharing, leasing, and partnership to provide its customers with financial services that are consistent with Sharia principles.
In August 2021, Sharjah Islamic Bank announced the launch of a new digital account that allows customers use the smart bank application to open an electronic account without the need to visit the branch.[5]
Financial performance
For the year 2022, Sharjah Islamic Bank (SIB) has posted net profit of AED 650.9 million.[6]
See also
- Islamic banking
- Shariah investments
References
- ^ Staff Report. "Sharjah Islamic Bank increases foreign ownership of shares to 40%". Khaleej Times. Retrieved 2022-10-20.
- ^ Staff Report. "Sharjah Islamic Bank's net profit soars 13.9% in Q1". Khaleej Times. Retrieved 2022-10-20.
- ^ "Sharjah Islamic Bank increases foreign ownership to 40 percent following regulatory approvals". Arabian Business. Retrieved 2022-10-20.
- ^ "Sharia Compliance".
- ^ "Sharjah Islamic Bank launches new digital account". www.gulftoday.ae. Retrieved 2022-10-20.
- ^ "Sharjah Islamic Bank records 27% jump in net profit in 2022 to reach AED650.9mn".
External links
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