The United Arab Emirates is known throughout the world for many things. It is famous throughout the world for its modern cities like Dubai and Abu Dhabi and is also known for its crude oil. The United Arab Emirates is a country with leading financial institutions. This guide will help you find the best bank in the UAE. The Central Bank of the UAE is the Central Bank of the UAE. The central bank of the UAE is responsible for the basic financial rules. There are 26 foreign banks, 23 local banks and 8 Islamic banks operating in the UAE. The UAE banking sector is dominated by five or more major banks. We will talk more about those banks in this guide. Plus, this guide will help you find the right bank for your needs.
Banks in the UAE (United Arab Emirates)
Emirates NBD
Emirates NBD is officially known as Dubai National Bank. The bank later merged with Emirates Bank International (EBI) to form Emirates NBD. Emirates NBD is one of the largest banking groups in the entire Middle East. The bank exists in many countries around the world. Currently, the bank has more than 250 branches operating in the UAE and other parts of the world. The bank is headquartered in Dubai and has more than 10,000 bank employees. The bank operates in various stages of business to provide flexibility and ease in providing banking services. They provide services such as wholesale banking, Islamic banking, information technology and operations.
First Abu Dhabi Bank (FAB)
Abu Dhabi First Bank is the largest bank in the United Arab Emirates, founded in 2017. First Gulf Bank and Abu Dhabi National Bank merged to form First Abu Dhabi Bank (FAB). FAB is also known as one of the largest and safest banks in the world. The bank offers many different products and services to each category of customers. The bank exists in several countries in Asia Pacific, such as London, Singapore, India, Qatar, and several other countries. It has the largest market capitalization among all other banks in the UAE. The bank employs more than 12,000 people worldwide.
Dubai Islamic Bank (DIB)
Dubai Islamic Bank is the largest Islamic bank in the United Arab Emirates and the second largest in the world. The bank is headquartered in Dubai, in the city of the UAE, the bank was established in 1975. Dubai Islamic Bank is the first fully operational Islamic bank in the world. In the United Arab Emirates alone, the bank has about 90 branches. The bank serves approximately 1.7 million customers worldwide. The bank is also available in seven different countries. The bank operates in several prominent business units, such as Consumer Banking, Corporate Banking, Real Estate Development, Treasury and other business units.
Abu Dhabi Commercial Bank (ADCB)
Abu Dhabi Commercial Bank is a commercial bank in the UAE, founded in 1985. ADCB is a state-owned bank in which the majority of shares (about 62%) are owned by the UAE government. It is the third largest bank in the United Arab Emirates and is headquartered in Abu Dhabi. The bank has about 17,000 employees. It has 56 branches in the United Arab Emirates and a branch in Jersey. The bank also operates in Singapore and London. Recently Union National Bank and Al Hilal Bank merged with Abu Dhabi Commercial Bank.
Mashreq Bank
Mashreq Bank is an independent bank and one of the oldest banks in the United Arab Emirates. The bank is headquartered in Dubai, United Arab Emirates, and was established in 1967 as the Bank of Oman. It is the first bank in the United Arab Emirates to issue debit and credit cards and is the first bank to introduce consumer credit. It has 45 local branches and 20 overseas branches. The bank is located in Egypt, Qatar, Kuwait and Bahrain. About 4,000 employees work at the bank.
Abu Dhabi Islamic Bank
The Islamic Bank of Abu Dhabi is secretive and Islamic. It is headquartered in Abu Dhabi, United Arab Emirates, founded in 1997. The bank has 2,000 employees working in some 69 branches across the country. The bank operates in various banking categories such as Global Retail Banking, Global Wholesale Banking, Private Banking, Treasury, Real Estate and others. The bank is also available in Egypt, Iraq, Saudi Arabia, and the UK.
Dubai Commercial Bank
The Islamic Bank of Abu Dhabi is secretive and Islamic. It is headquartered in Abu Dhabi, United Arab Emirates, founded in 1997. The bank has 2,000 employees working in some 69 branches across the country. The bank operates in various banking categories such as Global Retail Banking, Global Wholesale Banking, Private Banking, Treasury, Real Estate and others. The bank is also available in Egypt, Iraq, Saudi Arabia, and the UK.
RAKBANK
RAKBANK is also known as Ras Al-Khaimah National Bank (PJSC). The bank serves some 700,000 clients throughout the country through a network of 38 branches. RAKBANK is the best bank in the UAE in terms of returns of goods. The bank provides business and commercial banking services to individuals and companies in the UAE. The business operates in five phases: Trading Bank, Selling Bank, Business Bank, Treasurer and Insurance Business.
How many banks are there in the United Arab Emirates?
In the United Arab Emirates there are 22 national and 30 international banks. The country's banking system is dominated by larger banks, with the top five accounting for more than 60% of total assets.
