Banks in Dubai, UAE

Banks in Dubai

Most of us know that there are more than 50 banks in Dubai and the entire UAE. But can you name all of them? We would be able to pin-point the top banks. But for knowledge sake, at the time of writing this article there are a total of 51 fully licensed banks in Dubai UAE. That is a high number considering the population, isn’t it?

You may say that. But imagine the volume of business done by these banks and their contribution to the UAE economy. I believe it is tremendous. Further, it helps the consumers get the best deals if they shop around. There are both local banks as well as MNC banks.

Below is the list of Central Bank of UAE licensed Bank in Dubai, Banks in UAE:

Banks in the UAE are divided into 2 major categories,

1. Locally incorporated banks and 2. Branches of Foreign Banks.

The list contains both Conventional Banks as well as Sharia compliant Islamic Banks.

Locally incorporated Banks in the UAE

1. National Bank of Abu Dhabi
2. Abu Dhabi Commercial Bank
3. Al Masraf (erstwhile ARBIFT)
4. Union National Bank
5. Commercial Bank of Dubai
6. Dubai Islamic Bank PJSC
7. Emirates NBD Bank
8. Emirates Islamic Bank
9. Mashreq Bank PSC
10. Sharjah Islamic Bank
11. Bank of Sharjah PSC
12. United Arab Bank PJSC
13. InvestBank PLC
14. The National Bank of R.A.K or RAKBANK
15. Commercial Bank International
16. National Bank of Fujairah PSC
17. National Bank of U.A.Q PSC
18. First Gulf Bank
19. Abu Dhabi Islamic Bank
20. Dubai Bank
21. Noor Islamic Bank
22. Al Hilal Bank
23. Ajman Bank

Foreign Banks in the UAE

1. National Bank of Bahrain
2. Rafidain Bank
3. Arab Bank PLC
4. Banque Misr
5. El Nilein Bank
6. National Bank of Oman
7. Credit Agricole – Corporate and Investment Bank
8. Bank of Baroda
9. BNP Paribas
10. Janata Bank
11. HSBC Bank Middle East Limited
12. Arab African International Bank
13. Al Khaliji (France) S. A.
14. Al Ahli Bank of Kuwait
15. Barclays Bank PLC
16. Habib Bank Ltd.
17. Habib Bank A.G Zurich
18. Standard Chartered Bank
19. CitiBank N.A.
20. Bank Saderat Iran
21. Bank Meli Iran
22. Blom Bank France
23. Lloyds TSB Bank PLC
24. The Royal Bank of Scotland N.V.
25. United Bank Ltd.
26. Doha Bank
27. Samba Financial Group
28. National Bank of Kuwait.

All of the above banks are actively involved in the business of banking in the UAE and have played a very major role in the economic development of the UAE.

Please note that the list does not contain the Non Banking Financial Institutions-NBFC. I will cover them at a later post.