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Sharjah Islamic Bank
United Arab Emirates
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What are the differences in regulations for each
License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Company Information
Get to know Sharjah Islamic Bank
Company Information
Get to know Sharjah Islamic Bank
Sharjah Islamic Bank (SIB) started servicing the society in 1975; providing banking services to individuals and companies. An Amiri decree; released by His Highness Dr. Sheikh Sultan Bin Mohamed Al Qassimi the member of the Supreme Council & Ruler of Sharjah, was issued to launch & green-light the bank’s expedition. The bank was originally founded as National Bank of Sharjah and was suited the first bank to convert to Islamic Banking in 2002. The revolutionizing from commercial banking to Islamic banking was a significant twist for the bank. Not only were specialized products & services modulated for customers, the banks entire organization was converted to be conventional to Islamic regulations. Now, SIB offers customers a broad range of Sharia'a compliant retail, corporate & investment services through the extensive UAE networks.
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- Financial BankingPRIMARY
- Financial Other Service
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