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Dubai bank launches Islamic banking window

Dubai’s Commercial Bank International has launched Islamic banking window Al Islami. The window will offer a wide range of Shari’ah-compliant financial solutions and banking services and is aimed at the corporate financial world. Al Islami is supported by Qatar National Bank, which acquired 40% of CBI in 2012. It is guided by international Shari’ah adviser, the Shariyah Review Bureau, which will provide consultancy and audit support to the bank. Bank CEO Mark Robinson said Al Islami provides clients full range of Shariah-compliant retail and corporate products that adhere to the highest ethical standards. Launching this enhanced offer is a strategic priority for CBI as the bank transforms and continues to grow its market share across the UAE, he said. Head of Islamic banking Mamoon Abdelkader said the future of Islamic banking in the region looks very promising, as Shari’ah compliant products and services become more main stream and Dubai advances towards becoming the global Islamic financial capital of the world.

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