Sharjah, UAE – Invest Bank is proud to announce that it has received official approval from the Central Bank of the United Arab Emirates to operate an Islamic banking window. This marks a significant milestone in the bank’s ongoing transformation, allowing it to expand its portfolio with Sharia-compliant financial products and services tailored for both individuals and businesses in the UAE.
Edris Al Rafi, CEO of Invest Bank, emphasized the importance of this development: “Sharia-compliant banking is an integral part of our community. It aligns with our core mission to integrate banking activities with Islamic values, fostering economic growth and supporting social welfare.” The approval from the Central Bank further highlights the regulator’s confidence in Invest Bank’s ability to deliver inclusive, customer-focused financial solutions that meet the highest social and economic standards in the region.
The Islamic finance sector in the UAE is poised for substantial growth, with a projected compound annual growth rate (CAGR) of 9.15% between 2025 and 2033. Invest Bank’s new Islamic banking window will offer a broad range of Sharia-compliant products designed to provide maximum financial value and choice to customers seeking ethical banking alternatives.
Invest Bank has also officially informed the Abu Dhabi Securities Exchange (ADX) about its intention to offer Islamic banking services, reaffirming its commitment to transparency and regulatory compliance.
About Invest Bank
Founded in 1975 and headquartered in Sharjah, Invest Bank PSC is a leading public shareholding company in the UAE’s banking sector. With over four decades of experience, the bank has earned a strong reputation for delivering exceptional financial services across retail banking, corporate banking, and investment sectors. In 2019, the Government of Sharjah became a strategic partner through commercial investment, further reinforcing the bank’s position in the market. Invest Bank’s shares are publicly traded on the Abu Dhabi Securities Exchange (ADX).