Noor Islamic Bank, UAE  

Noor Islamic Bank (NIB) Tel 800-6667

Noor Islamic Bank (Al Noor Islamic Bank, or Noor Bank, but not usually Nour Bank) opened its doors for business on 02 January 2008 with 10 branches throughout the UAE - 1 in Abu Dhabi and Al Ain, 6 in Dubai, and 2 in Sharjah. None in Ajman, Fujairah, Ras Al Khaimah, or Umm Al Quwain at the time of opening but NIB plan to open 10 more branches during 2008 in the UAE, and open more branches, or buy other banks, in the region. NIB was first announced in December 2007 and has about $1 billion of capital (AED 3.7 billion).

NIB intend to be the leading or largest (or both) Islamic Bank in the world by 2013. They're a little way behind Dubai Islamic Bank, which has been around since 1975 and at the end of 2007 had almost 50 branches, about AED 80 billion of assets, and close to AED 10 billion of capital. Noor Islamic Bank is 25% owned by Dubai Group, a subsidiary of Dubai Holding, and 25% owned by the Investment Corporation of Dubai.

Noor Islamic Bank contact details

• Noor Islamic Bank, Burj Square, Building No. 1, 8th Floor, Business Bay
  PO Box 8822, Dubai, United Arab Emirates
• Tel +971-4-4268888, fax +971-4-3456789
• Toll-free 800-6667 (in the UAE)

NoorBank branch telephone numbers not available but some alternatives to the phone waiting system might be:

• Tel +971-4-4268787 also seen (marketing department?)
• Tel +971-4-4274343 (international phone banking) according to the UAE Yellow Pages but not confirmed if correct.

Noor Bank Tunisia representative office - 21 June 2008

Noor Bank opened its first overseas representative office in Tunis, capital of Tunisia. Country General Manager is Sadok Attia.

Noor Islamic Bank Maldives - 22 July 2008

Noor Maldives Islamic Bank is a joint venture between Noor Islamic Bank UAE and the Maldivian government, to establish an Islamic bank in the Maldives by the end of 2008, with head office in Male.

Noor Islamic Bank agreements and initiatives

• With Emirates Post to offer cheap accounts to low-paid workers (Jan 2008).
• With Marhaba Services to offer Airport 'Meet and Greet' services in Dubai, and access to the Marhaba lounge. For "distinguished customers", which might not be the same group as the low-paid workers they are offering cheap bank accounts to (Jan 2008).
• With Dubai Lands Department to offer escrow services for property purchases (Dec 2007).
• Infinity Lounge in some branches for exclusive customers with infinite wealth.

Noor Islamic Bank branches

Noor Bank opening hours

• Full service branches and service centers open Saturday-Thursday, closed Fridays. Hours from 0800-1500.
• *Sheikh Zayed Road branch is open 24 hrs, 7 days per week but teller services only from 0800-1500 Sat-Thu.
• **MOTE service center open 7 days, 0900-2200 Sat-Wed, 0900-2300 Thu/Fri (opening date 05 August 2008).

Noor Bank ATM locations

Noor Islamic Bank branches have ATMs of course, there are additional ATMs located in (information from noorbank.com):

• Abu Dhabi Coop Society, Abu Dhabi
• Abu Dhabi Shopping Mall / Abu Dhabi Mall, Abu Dhabi
• Al Khalidiya Mall, Abu Dhabi
• Al Muhari Center (Al Muhairy Center), Abu Dhabi
• Alsofah Tower? Jumeirah, Dubai (Noor Bank info, unknown which tower they mean)
• Bin Sougat Center, Rashidiya, Dubai
• Burj Square? Sheikh Zayed Road, Dubai
• Choithram's Karama, Dubai
• Choithram's Al Nasr Square, Deira, Dubai
• Choithram's Khalidiya (Khalediya), Abu Dhabi
• Deira City Center, Dubai (ground floor and food court area)
• Dubai International Financial Center (DIFC), Building 4, Dubai
• Dubai Festival City, Garhood, Dubai
• Dubai Healthcare City, Dubai
• Dubai Healthcare City, AACSH Building, Dubai
• Emaar Business Park, Dubai
• Emirates Group, DNATA, Port Saeed, Dubai
• Emarat Petrol Station, near Shindagha Carrefour, Dubai
• Grand City Mall, Al Quoz, Dubai
• Greens Community Centre, The Greens, Dubai
• LuLu Centre, Al Barsha, Dubai
• Mall of the Emirates (VIP Entrance, Food Court area), Dubai
• Manal Centre, Naif Road, Deira, Dubai
• Reef Mall, Deira, Dubai
• Souk Dukkan Al Manzil, Business Bay, Dubai
• Spring Supermarket, Satwa, Dubai
• The Village, Jumeirah Beach Road, Dubai
• Times Square Center, Al Barsha, Dubai

People at Noor Islamic Bank

• Shaikh Ahmad Bin Saeed Al Maktoum - Chairman Noor Islamic Bank
• Hussain Al Qemzi - Group CEO of NIB
• Ahsan Ali - SME & Wealth Management Banking Head
• On 23 November 2010, Bloomberg reported that the CEO, Hussain Al Qemzi, said the bank had let go "Thirty something" employees a few weeks ago.

Noor Islamic Bank merger

• On 13 October 2010, Emirates 24-7 newspaper reported that Noor Islamic Bank might merge with two other UAE Islamic banks - Emirates Islamic Bank (a subsidiary of Emirates NBD) and Dubai Bank, quoting an anonymous source who said "As far as we understand, there is a proposal to merge the three Islamic banks, who will then bail out Amlak," (Amlak is a UAE based mortgage finance company that developed financial troubles in 2008 or so, along with most of the rest of the world).
• On 17 October 2010, Noor Islamic Bank issued a statement contradicting the newspaper report, saying "Noor Islamic Bank categorically denies the market rumours about any potential acquisition of, or merger with any financial institution," which many of the more cynical observers of business in the UAE will interpret as confirmation that there is some substance to the rumours.

Noor Islamic Bank financial results

Last update Sunday 12-Dec-2010

Related pages

• Noor Islamic Bank - forum topic - read comments and/or add your own
• Banks in Dubai - list of Dubai and UAE banks

Related websites (new window)

• www.noorbank.com - Noor Islamic Bank website
• Dubai directory - add your link free

www.dubaifaqs.com/noor-islamic-bank.php

Abu Dhabi AUH ABD ADB, Ajman AJM, Al Ain AAN, Dubai DXB, Fujairah FUJ, Ras Al Khaimah RAK, Sharjah SHJ, Umm Al Quwain UAQ information guide

Copyright © www.dubaifaqs.com 2012, Dubai, UAE - United Arab Emirates