Non-Muslims often assume that Islamic banks exist only for Muslims, as it follows the principles of Shariah Law set by the Holy Quran and the teachings of Prophet Muhammad (PBUH).

1. How to open a bank account in
Dubai based on Shariah principles

2. • Non-Muslims often assume that Islamic banks exist only for Muslims,
as it follows the principles of Shariah Law set by the Holy Quran and
the teachings of Prophet Muhammad (PBUH).
• Many would be surprised to know that a large number of non-Muslims
working in Islamic countries like UAE have migrated towards Islamic
banks.
• It is not because they have no other option but because they learned
that there are a number of benefits offered by these banks. Major
international banks have set up their Islamic wings in the Middle East
and now come under the list of Islamic banks in UAE.

3. Benefits of Islamic Bank
• As mentioned earlier, the first benefit is that Islamic banks are not
limited to Muslims only. Non-Muslims are welcomed and treated
equally by these banks.
• Since Islamic banks are based on the profit sharing principle, all the
risks involved are equally shared by the bank and the customer,
making this banking method just and fair for all.
• Some of them also offer Shariah compliant financial planning
schemes and experts who can help you plan your finances.
• Islamic banking believes in transparency, investors and account
holders benefit from the profit earned by the bank in different sectors.
This profit is shared on a pre-decided proportion.

4. • These banks are ethical and use finances only for good purposes
they do not encourage activities like interest, alcohol, gambling etc.
that are forbidden in Islam.
• Charity is considered to be one of the five pillars of Islam and many
Islamic institutions including banks donate a part of their profit in
the form of charity every year.
• You can take help of the internet and choose from the list of Islamic
banks in UAE to open a bank account.

5. • Islamic banks believe in maintaining a transparent relation with
their customers, it is often called the modern or sophisticated form
of banking.
• A lot of educational institutions across the world including Harvard
had established their Islamic Finance Project back in the mid 90’s.
• In 2007, when the whole world faced economic crisis, Islamic banks
stood strong and that’s when its power was noticed by everyone.
• With so many perks, migrating to Islamic Banking will only bring
fruitful results. Today, Islamic banks exist in various countries of the
world. You can visit any of these banks and they will help you on
how to open a bank account in UAE based on Shariah principles.