Islamic Banking by Noor Bank Dubai

Islamic Banking in Dubai UAE - Noor Bank Dubai Contact Details, Telephone Numbers, Website, Address, Location Map, Direction, Photos, Videos, Opening Hours, Email Address, Offers & Deals.
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Islamic Banking in Dubai UAE – Noor Bank Dubai Contact Details, Telephone Numbers, Website, Address, Location Map, Direction, Photos, Videos, Opening Hours, Email Address, Offers & Deals.

Noor Bank Dubai

Building 1, Level 8, Emaar Square, Downtown Dubai, PO Box 8822, Dubai, United Arab Emirates
Tel: 8006667, +97144274343
Email: contactcentre@noorbank.com
Website: http://www.noorbank.com/english/info/islamic-banking

Islamic Banking by Noor Bank Dubai

Islamic banking is banking that is consistent with Shari’a, and carried out in accordance with the rules of Shari’a known as fiqh mu’alamat, which means ‘rules of financial transactions’. One of the key highlights of Islamic banking is that it promotes a greater degree of fairness and equity in the conduct of business.

Shari’a is the set of rules derived from the Holy Quran, the authentic traditions (Sunnah) of the Prophet Muhammad (peace be upon him), and scholarly opinions (Ijtihad) based on the Quran and the Sunnah. The principles of Shari’a that govern Islamic banking include:

– Prohibition of interest (riba) in all financial transactions
– Prohibition of gharar (extreme uncertainty) on the subject of the transactions
– Entitlement to returns due to liability of loss, and vice versa
– Obligations of trust (amanah), covenants (uqud), interdiction against unlawful (haram) earnings and expenditures, fraud of giving less than due in measure and weight, and unjust enrichment.

How can Noor Bank’s products be considered Islamic?

– Shari’a requires that banking products or transactions comply with Shari’a rules and principles, and promote halal activities. These products should be approved and certified by the Fatwa and Shari’a Supervisory Board (FSSB) of the bank and also supported by an internal Shari’a Department to ensure that operations are in line with resolutions of the FSSB. At Noor Bank, all these and several additional measures are followed diligently.

What advantages does Noor Bank offer over other Islamic financial providers?

– At Noor Bank, we constantly strive to create and provide financial solutions that meet the requirements of our customers. As a result, we offer banking solutions that combine our expertise with your values.

Noor Bank (formerly Noor Islamic Bank) was established in January 2008, in Dubai – United Arab Emirates.

In a short period of time, Noor Bank has grown considerably, and now provides a comprehensive range of products and services – in personal and corporate banking, wealth management, insurance, treasury and trading.

We are known for creative, innovative and responsible products and services, most of which are tailored to suit specific business and personal needs. Our efforts to provide professional services and build lasting relationships continue to win us new customers – individuals, investors, institutions, companies and governments – across all operations.
Besides an esteemed Board of Directors, we are also supervised by a Shari’a Supervisory Committee, and a team of reputed scholars oversee and ensure Islamic compliance on all legal, financial and banking matters.

Noor Bank Ownership

The Bank was launched in 2008 under the specific instruction of the Government of Dubai, with the shareholders and the Board of Directors also selected and nominated directly by the Government of Dubai. The Government of Dubai, members of the Ruling Family of Dubai and a select group of Government of Dubai nominated shareholders directly own 87.80% of the Bank’s shares in aggregate.

Significant Shareholdings

The Government of Dubai, acting through the Office of the Crown Prince of Dubai, owns 25.73% of the Bank. HH Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum is the Crown Prince of Dubai, and is the Chairman of the Dubai Executive Council.

The Government of Dubai, acting through Investment Corporation of Dubai (ICD), owns 22.71% of the Bank. ICD is the investment arm of the Government of Dubai and was formed in May 2006.

The Federal Government of the United Arab Emirates acting through Emirates Investment Authority (EIA) owns 4.70% of the Bank. EIA was established by Emiri decree in November 2007 and is a sovereign wealth fund for all seven emirates comprising the UAE.

No shareholder, other than those listed above, owns more than 5% of the Bank’s shares.
Noor Bank is rated “A-” IDR with a stable outlook by Fitch Ratings.
We have a presence across the country, at multiple locations in Abu Dhabi, Dubai, Sharjah and Al Ain.

Contact Information:

Islamic Banking by Noor Bank Dubai

Address: Building 1, Level 8, Emaar Square, Downtown Dubai, PO Box 8822, Dubai, United Arab Emirates
Tel: 8006667, +97144274343
Email: contactcentre@noorbank.com
Website: http://www.noorbank.com/english/info/islamic-banking

Islamic Banking Dubai UAE | Noor Bank Dubai Contact Details, Reviews, Location Map, Telephone Number, Address, Working Hours, Photos & Videos of Noor Bank in Dubai UAE. Find Noor Bank in Dubai business directory with contact details, telephone numbers, email addresses, websites, location maps, driving directions, deals, offers, prices, costs, reviews and ratings.

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