Noor Islamic Bank

Noor Islamic Bank, later known simply as Noor Bank, was established in January 2008 in Dubai, United Arab Emirates, under the patronage of Sheikh Mohammed bin Rashid Al Maktoum.

It was launched as a full-service Shari’a-compliant bank, offering a comprehensive range of products and services adhering strictly to Islamic finance principles across personal, corporate, and investment banking.

Governed by a Shari’a board comprising Islamic scholars specialized in law and finance, Noor Bank quickly became known for pioneering innovative banking solutions rooted in ethical Islamic values.

Noor Bank distinguished itself early on by introducing the UAE’s first 24/7 banking branches in 2008, including one at Dubai International Airport, reflecting its customer-centric and technologically advanced approach.

The bank expanded its footprint across multiple Emirates including Dubai, Abu Dhabi, Sharjah, and Al Ain, serving a diversified clientele with services such as wealth management, trade finance, SME banking through its Noor Trade division, and Takaful (Islamic insurance) in partnership with Noor Takaful.

The bank experienced significant growth over its operational years, being ranked among the top banks in the UAE by asset size and profitability, and strategically partnered in 2013 with Emaar Properties to offer mortgages to expatriates.

In 2014, as part of a rebranding effort to broaden its market appeal, it dropped “Islamic” from its name to become Noor Bank while continuing to provide fully Shari’a-compliant products.

In December 2019, Noor Bank was acquired by Dubai Islamic Bank (DIB), the region’s largest Islamic bank, in a strategic move to consolidate and strengthen Islamic banking in the UAE.

Following the acquisition, Noor Bank’s operations and customer base were integrated into DIB, creating a more competitive and comprehensive Islamic finance institution with an expanded scale and regional reach.

The merger marked the end of Noor Bank’s independent operations but solidified its legacy as a significant contributor to the development of Islamic banking in the UAE.