Banking In Dubai

Knowledge of Dubai's banking system will help with your property purchase.

Dubai has a very sophisticated banking service and many international banks have established branches in the city. In order to open a bank account in Dubai you will need to have a residence permit or open an offshore account.

Although mortgages are available to finance your Dubai property purchase from the country's banks, the options are still quite limited and interest rates can work out higher than in many other countries. This situation is gradually changing and both international and local mortgage lenders are making it increasingly attractive to borrow for property finance. While some purchasers seek the assistance of a local mortgage broker to find them the best finance options, others prefer to raise a mortgage from their own countries.

National Banks:

• Abu Dhabi Islamic Bank
• Abu Dhabi Commercial Bank
• Arab Bank for Investment & Foreign Trade
• Bank of Sharjah
• Commercial Bank International
• Commercial Bank of Dubai
• Dubai Bank
• Dubai Islamic Bank
• Emirates Bank International
• First Gulf Bank
• Invest Bank
• Mashreq Bank
• Middle East Bank
• National Bank of Abu Dhabi
• National Bank of Dubai
• National Bank of Fujairah
• National Bank of Ras Al Khaimah
• National Bank of Sharjah
• National Bank of Umm Al Qaiwain
• Union National Bank
• United Arab Bank

Foreign Banks:

• Al Ahli Bank of Kuwait K.S.C.ABN-Amro Bank N.V.
• Arab African International Bank
• Arab Bank plc.
• Bank of Baroda
• Bank Melli IranBank Saderat Iran
• Banque BanorabeBarclays Bank Plc.
• Banque du Caire
• Credit Agricole Indosuez
• Credit Suisse
• BLC (France) S.A.
• BNP Paribas
• HSBC Bank Middle East
• Citibank N.A.
• El-Nilein Bank
• Habib Bank A.G.Zurich
• Habib Bank Limited
• Janata Bank
• Lloyds TSB Bank Plc.
• National Bank of Bahrain
• National Bank of Oman S.A.O.G.
• Rafidain Bank
• Standard Chartered Bank
• Societe Generale
• United Bank Limited
• UBS

Opening Hours

Bank opening hours vary throughout the region. In general, banks are open from 8am to 1pm, Saturdays to Wednesdays. On Thursdays, opening hours are usually 8am to noon, and banks (like other businesses) are closed on Fridays. Some banks re-open in the afternoon from 4.30 to 6.30pm

You may also be interested in the following:

• Banking In Dubai
• Guide To Dubai
• Internet Banking 'used By Expats'
• Driving In Dubai
• Banking In Turkey