Dubai
Islamic Bank

Dubai Islamic Bank's two main services can be broadly classified into:

1. Personal
2. Business

Personal:

DIB offers various personal finance services such as transfer funds, cards and loans. 

The 3 main personal banking services can be summarised below:

1. Wajaha Private Banking:

DIB claims to offer personalised banking assistance, privileges and dedicated services to all private clients.

In order to be eligible, a client must have:

• A minimum account balance of AED 3,500,000 or
• Receive a salary credit of AED 150,000.

In case the monthly requirements are not met, a fee of AED 200 would apply as membership fees.

Here are the features DIB claims to offer Wajaha Private Banking clients:

• Phone banking
• Dedicated relationship manager
• Financing
• Card privileges like infinite credit cards
• Currency exchange
• Investments

The investment services offered to DIB's private clients under Wajaha Private Banking are available in 3 currencies: AED, EUR and USD.

They come with different tenures and the investment options include structured products, commodities, share finance, mutual funds and more.

Dubai Islamic bank also offers their clients extensive brokerage services through DIFS (Dubai Islamic Financial Services).

2. Aayan Exclusive Banking:

Under this, DIB claims to offer personalised banking assistance, banking privileges on all products and monthly salary advance to clients.

In order to be eligible for this, clients would need to maintain a minimum of AED 350,000 or receive a salary of AED 35,000.

DIB's Aayan Exclusive Banking has centres in Dubai, Abu Dhabi, Al Ain and Sharjah.

The exclusive features offered to clients under this can be summed up below:

• Signature cards
• E-savings
• 2 in 1 account
• Currency exchange
• Salary advance
• Dedicated relationship manager
• Financing
• Investing

Aayan Exclusive Banking's investment options range from structured products to commodity-linked structures and sukuk.

3. Mumayyaz Privilege Banking:

Under this, Dubai Islamic Bank provides a client with a dedicated relationship officer to manage their investment and banking needs.

Eligibility criteria for DIB's Mumayyaz Privilege Banking is as follows:

• Required to have a minimum account balance of AED 100,000 - 350,000 or
• A salary credit of AED 15,000 - 35000.

The privileges offered to clients under the Mumayyaz Privilege Banking includes:

• Advance salary
• Platinum cards
• A range of financing options
• Investment options

These investment options include managed portfolios that are Sharia-compliant (we would recommend reading the expert verdict section to make an informed decision).

2. Business:

Dubai Islamic Bank's business offerings includes corporate banking, business banking, treasury banking, investment banking and other foreign exchange and real-estate services.

NOTE:

We would highly recommend reading the 'expert verdict' section of this review before making any decisions.

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