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Bank Accounts in the UAE
As per Forbes Middle East, Dubai Islamic Bank has ranked 15th in the top hundred companies in the Middle East in 2021. The bank officially started functioning in the year 1975 and has contributed to the financial development of individuals and companies under its umbrella. Dubai Islamic Bank has designed its business account to benefit the growing companies in today’s fast changing corporate environment.
The Dubai Islamic Bank offers four business account packages fabricated to serve all kinds of needs for a business. Each of the DIB Business Accounts is loaded with unique features & benefits, allowing the business owners to manage their finances efficiently and achieve their business goals.
DIB offers four types of business accounts as mentioned below, and the customer has the freedom to choose the business account as per their requirement subject to fulfilling certain criteria.
DIB Business Accounts are versatile, offering a wide range of banking services and benefits to the account holders. Following are the key features & benefits of the DIB Business Accounts:
Dubai Islamic Bank comes up with exclusive benefits on e-Trader Business Account. The account has been brought up in association with Dubai Economy (DED) and is very much suitable for a social media or online entrepreneur holding a license from DED. This account offers you an attractive set of privileges.
DIB Al Islami Business Account Plus is especially designed for day-to-day business. It comes up with an online banking facility, a free chequebook (one free chequebook) and SMS alerts for transactions.
DIB Al Islami Business Account Premium is also fabricated for daily business operations. In addition, it also comes with added benefits and privileges for the customers. The account offers online access to funds along with a free chequebook.
Dubai Al Islami Business Account Infinite is an upgraded version of Al Islami Business Account Premium where the benefits and privileges are increased and it focuses on the quick growth of the business.
In order to open the DIB Business Account, the applicant will need to satisfy certain eligibility criteria such as minimum average balance and furnishing of required documents as mentioned below.
|DIB Business Accounts||Minimum Average Balance Required|
|AI Islami Business Account||AED 50,000|
|Business Account Plus||AED 250,000|
|Business Account Premium||AED 500,000|
At the time of account opening, the individuals will be required to furnish the documents as per the requirement of the bank. The applicant needs to submit the following documents to open a business account with Dubai Islamic Bank:
Dubai Islamic Bank offers an easy and convenient account opening process that can be done through online and offline applications. Interested people can open a DIB Business Account in any of the below-mentioned ways:
To open a business account with Dubai Islamic Bank, the applicants can visit the bank’s official website and apply for the bank account they wish to open.
Another convenient option for opening a DIB Business Account is visiting the nearby branch of Dubai Islamic Bank. The applicants need to carry the required documents & submit them along with the account opening form.
If an account holder wishes to close his/her DIB Business Account, the following steps are required to be taken:
Q1: What is the minimum monthly average balance required to maintain on the DIB Business Accounts?
Ans: You need to maintain a minimum monthly average balance on all the business accounts offered by the Dubai Islamic Bank. However, it varies from account to account. Following is the minimum average balance required for each of the DIB Business Accounts:
|e-Trader Business Account||AED 0|
|AI Islami Business Account Plus||AED 50,000|
|Business Account Premium||AED 250,000|
|Business Account Infinite||AED 500,000|
Q2: Do I need to pay an account maintenance fee?
Ans: Well, yes, you need to pay an account maintenance fee per month if you fail to maintain a minimum monthly average balance required for each of the DIB Business Accounts. Here is the account maintenance fee:
|e-Trader Business Account||AED 0|
|AI Islami Business Account Plus||AED 525|
|Business Account Premium||AED 525|
|Business Account Infinite||AED 630|
Q3: Can I open a DIB Business Account online?
Ans: Yes, of course. Dubai Islamic Bank business accounts can easily be opened online by going through the bank’s official website and filling in the required details.
Q4: What documents are required to open a DIB Business Account?
Ans: To open a bank account, two basic document proofs, i.e. identity proof and address proof, have to be submitted. An individual is required to furnish an original passport/resident visa to open the Dubai Islamic Bank business account. Additional documents might be required for submission as per the sole discretion of the bank.
Q5: Is my personal information safe & secured with Dubai Islamic Bank?
Ans: Yes, your personal information is absolutely safe & secured with Dubai Islamic Bank.
Q6: How many business accounts are offered by the Dubai Islamic Bank?
Ans: The bank offers four business account packages. – DIB e-Trader Business Account, AI Islami Business Account Plus, Business Account Premium & Business Account Infinite.
Q7: What is the additional chequebook issuance fee?
Ans: Here is the additional chequebook issuance fee (50 leaves):
|AI Islami Business Account Plus||AED 52.50|
|Business Account Premium||AED 52.50|
|Business Account Infinite||AED 52.50|