Table of Contents
Introduction
The United Arab Emirates (UAE) is an emerging regional power and one of the most progressive banking systems. The UAE has also become a financial services center due to the focus on innovation and technology. In this article, we are going to discuss the top 10 banks in the UAE, which will help us to get an idea about the services they provide and their role in the economy of the country.
1. First Abu Dhabi Bank (FAB)
First Abu Dhabi Bank (FAB) is the biggest bank in the UAE and one of the biggest banks in the world. FAB was created in 2017 by the combination of First Gulf Bank and National Bank of Abu Dhabi and it offers retail, corporate and investment banking services. It has a strong domestic position and also operates in other countries.
This paper finds that FAB has paid much attention to innovation and digital transformation and has come up with a number of digital banking products and services. They also have an environmental stewardship policy that includes a number of initiatives aimed at the reduction of environmental impacts.
2. Emirates NBD
Emirates NBD has grown to be one of the big banks in the UAE and provides banking and financial services. This includes retail banking, corporate banking and treasury services. Emirates NBD has a dominant position in the UAE and also has its presence in Egypt, Saudi Arabia and India.
Emirates NBD has always been a customer oriented bank and has introduced a number of digital banking products that include mobile banking apps and contactless payment solutions. In addition, the bank’s CSR activities are directed towards improving specific areas of people’s lives, particularly education and healthcare.
3. Abu Dhabi Commercial Bank (ADCB)
Established in 1985, Abu Dhabi Commercial Bank (ADCB) is one of the biggest banks in the UAE. ADCB offers retail banking, corporate and investment banking, and wealth management; it also operates in the UAE and other countries, including India and the UK.
ADC has been recognized for its excellent customer service and has received many awards, including for the best retail bank and best digital bank in the UAE. The bank’s sustainability efforts are particularly visible in its efforts to reduce carbon emissions.
4. Dubai Islamic Bank (DIB)
As the biggest Islamic bank in the world and in the UAE, Dubai Islamic Bank (DIB) is the leading bank in Sharia compliant banking. It offers retail, corporate and investment banking, and DIB has its presence in Pakistan and Sudan.
DIB is especially famous for Sharia banking and ethical banking, which has got many awards for its products and services that are Sharia compliant. The bank is also involved in social corporate responsibility programs that focus on education and healthcare.
5. Mashreq Bank
Mashreq Bank has been in business for more than four decades and is one of the oldest banks in the UAE. It offers a full spectrum of banking and financial services to its customers in retail banking, corporate banking, and treasury services. It also has a international presence with its operations in Egypt and Qatar.
Focusing on the customer, Mashreq Bank remains innovative and provides digital banking products such as mobile applications and online banking to improve the client's experience. The company's CSR policies are usually aimed at education and mashreqbank.com.kw/ entrepreneurship.
6. Commercial Bank of Dubai (CBD)
The Commercial Bank of Dubai (CBD) is another big bank that offers banking and financial services to customers in the retail and corporate banking, and trade finance. CBD has a good presence in the UAE and has branches in other countries like Qatar and Iraq.
CBD has a good creditable reputation of having strong financial reports and is renowned for its customers relations services. The bank is also an environmentally conscious organization and has made efforts to reduce its effects through various projects.
7. National Bank of Ras Al Khaimah (RAKBANK)
RAKBANK has also grown to be one of the big banks in the UAE, and it offers banking services such as retail banking, corporate banking, and SME banking. It has gone beyond the UAE, with its presence in India and Singapore.
As a flexible and customer-oriented provider, KEB Rail has introduced a number of digital banking products, including mobile banking apps and online banking. The bank's CSR focus is particularly evident in its initiatives to support education and healthcare.
8. Sharjah Islamic Bank (SIB)
SIB is well known for Sharia banking, which has received many awards for its products and processes. In addition, the bank has social responsibility and engages in various projects to enhance education and healthcare.
