- Nov 24, 2023
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Best Banks in Dubai - A Comprehensive Guide
The UAE has been evolving over the past few years, opening a gateway of opportunities for investment and businesses. It’s become one of the safest places for people to settle and is home to people of cultures from all over the globe. With people comes living and many other expenses that require a reliable banking facility for both resident Emirates and outsiders.
Financially, the UAE has some top institutions serving the growing population with their top-notch ideas and expertise. The Central Bank of the UAE is the main body monitoring all the banking services and institutions, ensuring everything goes smoothly in terms of service and finances.
So, to make things easier for the people and the visitors in UAE, we have combined the list of some of the Largest Banks in UAE, widely known for their expertise. With both commercial and Islamic Banking options, you can choose the one best suited to your needs. Keep scrolling to discover banks for the people and the Expats in the UAE!
Top 10 Banks in Dubai
Here’s a rundown of the Top 10 Banks in UAE where experts deal with your finances and invest them in the right places so you can get the right returns. Choose from any of the following and visit the nearest branch to gain better insight.
1. Standard Chartered - Largest Banks In UAE
Standard Chartered leads the international market with its outstanding banking services. Their employees ensure on providing premium banking services and automation of processes. It is a British Multinational Bank offering institutional, corporate, personal banking, and treasury services. SC was one of the first institutions to introduce teller machines and now leads the market by providing innovative tech in finance.
Standard Chartered has its HQ in the UK but does not conduct retail banking there. However, 90% of the profit comes from the Middle East, Africa, and Asia.
Helpline: 600 5222 88 ( for 24-hour assistance for Emirates ) +971 600 5222 88 (for 24-hour for overseas clients)
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2. Citi Bank - UAE Top Bank
The Citi Bank began its operations in Dubai in 1964, and to date, it’s known to be one of the most reliable banks. It’s known for being a prominent provider of personal loan services and other consumer credit services. They have four branches in Dubai and up to 39 ATMs, allowing easy access to the money in your accounts.
The ability of this best banks In Dubai is to merge various capital market ways with a top-class M&A to provide the regional banking experience that makes them stand out amongst other banks. Citi Bank delivers the most innovative solutions using expertise and is a financial game changer in the UAE.
Helpline: For Citigold clients: +971 4 311 4653. For other clients: +971 4 311 4000.
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3. HSBC - One Of The Best Bank In Dubai
Hong Kong and Shanghai Banking Corporation is one of the leading banks in the world and the UAE. They open a world of opportunity by serving 39 Million clients in different ways through their global banking facilities, commercial banking, and wealth and personal banking. They have a strong network covering approximately 62 countries. They serve in different parts of Asia, the Middle East, Africa, Europe, Latin America, and North America.
HSBC goes back to the year 1946 when the Imperial Bank of Iran, the predecessor of the Middle Eastern branch, began working for the residents and business people of Emirates.
After its removal from Iran, the bank was labeled as the British Bank of the Middle East. But later, in 1959, HSBC took over BBME and established its presence in the UAE.
Helpline: 800 86423
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4. Barclays
Barclays has been part of the Middle East for the past 150 years. Their goal is to ensure clients' financial needs are fully managed. With solutions for Corporate and Investment Banking, you can invest your money in the right places for better returns, from risk management to trading working capital, providing its requirements, managing the financial needs of the people, and cash and liquidity management for each customer. This one of the best banks In Dubai has a team of top-notch people ensuring an exclusive, inclusive banking experience.
Helpline: +971 (0)4 365 3030
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5. Commercial Bank of Dubai - Biggest Bank In Dubai
CBD is another leading financial institution in the UAE that caters to the needs of business ventures and governments and even provides personal banking to individuals. You can get access to and advice on retail banking, commercial banking, and commercial banking. The team at CBD delivers a tailored experience for all its customer base. They have gained popularity and built a reputation for outstanding customer service.
Helpline: 600 575 556 - for the people of UAE and +971 600 575 556 - outside of UAE.
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6. Union National - Top Bank In Dubai
Union National Bank has worked in the finance field for years, resulting in them building a well-established bank. They cater to a variety of customer bases, such as government facilities, ventures, and individuals seeking bank accounts. They have different departments with top-of-the-line employees catering to all customer requirements.
From advice regarding retail, treasury services, and corporate banking, UNB does it all. They have a strong reputation in the market, which has been built over the years. They are committed to offering top-rated services and commit to each customer fully.
Helpline : 600-566665- for the people of UAE and 971(4)8810999 - outside of UAE.
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7. The National Bank of Fujairah - Best Bank In UAE
NBF is widely known to different entities with its wide range of baking services. They customize the services according to the needs of customers to ensure clients feel prioritized. So, the expert team does it all, whether it's a massive corporation or an individual needing assistance. One of their expertise includes serving businesses, which has led them to earn rewards in Dubai for many years, from the best treasury management to leading trade finance, corporate advisory, and customer service.
NBF Elham is the newest project of this best banks In Dubai that has ensured a premium banking experience for the women in UAE. They also have a Tasdeed Prepaid Card for safe and seamless government payments.
Helpline: 8008623 - Inside the UAE and +97148157555 - Outside the UAE
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8. RAK Bank In Dubai
The National Bank of Ras Al Khaimah offers diversified services for business and retail. They lead the market with instant banking solutions, SME, and retail banking. They specialize in personalized banking for all their clients. They have been working in the UAE market for years. This has led them to build a trustworthy customer base and a prominent presence in the UAE.
Their innovative solutions and customer-focused approach have made them popular amongst customers. Their increasing demand has directed them to open 33 branches in the UAE. Of the rewards they have received, their most significant is being the SME Bank of the Year and providing the best online banking products of the year by the Asian Banker.
Helpline: For Conventional Banking: 600544049 and For Islamic Banking: 600540044
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9. Sharjah Islamic - Premium Bank In UAE
If you’re seeking Sharia-compliant products and services in the UAE, then the Sharjah Islamic Bank is the one for you. They are another Premier Islamic Bank in the UAE. Their services extend to different needs, such as corporate, investment solutions, and retail banking. They do it all while sticking to the principles of Islamic Financing. SIB has a strong presence in the banking sector with their client-based approach and ethical banking.
Helpline: +97165999999
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10. Emirates Islamic Bank - Top UAE Bank
Another Sharia-compliant bank in the UAE is the Emirates Islamic Bank. It is also recognised as one of the top UAE banks with the services it provides to its customer base. EIB was launched in 2004, and since then, they have been working for both customers and ventures to ensure a smooth credit card, loan service, and seamless inflow and outflow of cash any time of the day.
The policies of this best bank In Dubai is for all the people in UAE and ensure everyone has access to their top-tier and smooth credit card service. With cashback and discounts on different brands and eateries, EIB provides premium service. One of the leading features is how they let both Expats and Emirates apply for loans in case of financial emergencies.
Helpline: 600 599995
5 Best Banks In Dubai For Expats
The following are some of the top and most recommended banks for Expats in Dubai. They will make your experience smoother and offer services accordingly.
1. Emirates NBD
Number of customers: 17 Million
Total Branches: 879
ATMs: 4130
Serving in 13 Countries
Helpline number: +971 600 54 0000
The Emirates NBD is one of the largest banks in the UAE, offering reliable and trustworthy service. It is undoubtedly a popular choice for expats, offering outstanding online and in-person assistance. They simplify the banking experience with their numerous branches with walk-in service. You're fully sorted with discounts, travel rewards, and cashback service.
2. Mashreq Bank
Number of customers: 1.75 Million
Total Branches: 29
ATMs: 56
Serving in 13 Countries
Helpline number: +971 4 424 4444
With over five decades of experience, the Mashreq Bank is another go-to bank for expats in Dubai. They offer both personal and corporate banking services for the Emirate in Dubai. Their team includes some of the most excellent people, ensuring you have a steady service 24/7. For questions and queries, call the representatives any time of the day. They will assist you through mundane tasks and guide you properly. However, their offline presence needs work, especially with only a few branches and ATM outlets.
3. Abu Dhabi Commercial Bank
Number of customers: 1 Million
Total Branches: 48
ATMs: 430+
Serving in 8 Countries
Helpline number: +97126210090
ADC Bank has a massive reach in Dubai, providing services in both cities. Abu Dhabi Commercial Bank is known for its fast banking and smooth service amongst expats. This bank in Dubai was estabalished in 1985 and is now the third-largest bank in the United Arab Emirates. For those seeking an instant account opening procedure, chances of affordable loans, and discounts on credit cards, ADC Bank is the one you need to choose.
4. Dubai Islamic Bank
Number of customers: 5 Million
Total Branches: 90
ATMs: -
Serving in: 7 Countries
Helpline number: +971 4 609 2222
Dubai Islamic Bank offers Riba-free and Sharia-compliant services in the UAE. It’s known as the top 3rd largest Islamic in the world and leads in Dubai. With 1.7 Million customers, the bank guarantees its customers make a profit on the basis of faith-compliant investments. They have been serving customers since 1975, providing reliable services and keeping the laws of Islam in mind.
5. First Abu Dhabi Bank
Number of customers: 3 Million
Total Branches: 5+
ATMs: 9+
Serving in 19 Countries
Helpline number: 600625500
The First Abu Dhabi Bank is a collaboration project of two of the leading banks in the UAE. The National Bank of Abu Dhabi and First Gulf Bank launched the FAB in 2016. The First Abu Dhabi Bank is famous for its market capitalization and management of assets. Moreover, courtesy of Global Finance, FAB is ranked as one of the safest banks in Dubai. From managing corporate accounts to personal accounts, this bank does everything. If you’re someone who wants to get the best credit card offers, then this is ideal for you.
Largest Banks In UAE : Their Branches And ATMs
The following is a list of Top UAE banks, their total branches, and ATM services available to all clients:
Bank Names | Number of Branches and ATMs |
Emirates National Bank of Dubai | 33 Branches and 1081 ATMs |
Emirates Islamic Bank | 50 Branches and 39 ATMs |
First Abu Dhabi Bank | 74 Branches and 100+ ATMs |
Abu Dhabi Commercial Bank | 72 Branches and 450 ATMs |
Mashreq Bank | 31 Branches and 31 ATMs |
Dubai Islamic Bank | 90 Branches and 520 ATMs |
National Bank of Fujairah | 48 Branches and 48 ATMs |
Standard Chartered Bank | 5 Branches and 42 ATMs |
National Bank of Ras Al-Khaimah | 26 Branches and 131 ATMs |
Abu Dhabi Islamic Bank | 89 Branches and 577 ATMs |
Advantages Of Having A Bank Account In The UAE
If you have a bank account in the United Arab Emirates, you can benefit from a list of advantages for the residents, expats, investors, and business owners. Let's find out:
International Hub Of Finance
Over the course of time, Abu Dhabi and Dubai have become global financial centers, bringing investors and businessmen from all over the globe. People from different cultures want to invest in various projects, such as properties and business ventures in the UAE, to reap the benefits that come with the impressive economy.
Stabilized Economy
UAE has worked on stabilizing its economy for quite some time. With so many practical and efficient techniques, it’s safe to say they have one of the most prospering economies now. They provide a safe baking environment and experts from all over the world to guide you on making the suitable investment for fruitful returns.
Strong Banking Sector
Another integral pro is their powerful banking sector, which has undoubtedly evolved over time. Their banking sector has diverse services for Emirates, Expats, and investors that meet international banking standards.
A Chance To Invest Right
A lot of people rely on making a living through investment projects. So, for them, seeking out opportunities to invest in the UAE will be nothing but beneficial. UAE provides access to the stock market, bonds, and the best real estate projects with many benefits, such as impressive ROI and even the Golden Visa for you and your family.
Pegged Currency Rate
The dirham is fixated and matches the US dollar, which brings stability to the exchange rate. This way, the UAE dirham doesn’t lack value, and with a decent conversion rate, people can think of investing in properties and businesses for better returns.
Diversified Services
UAE is a home to people from all walks of life, which is why having a wide range of banking services is essential. You’ll find not just commercial banks but some of the top and biggest banks in UAE catering to Islamic Banking customers. This way, you can create an account with a bank best suited to your financial needs. Get ribe-free services or enjoy interests; it all comes down to your preferences.
FAQs
What are the top private banks in Dubai?
The leading private banks in the UAE include Barclays, Citi Bank, Credit Suisse, and HSBC. They provide customers with international banking experience, providing discounts, top credit cards, and a chance to become a member of the private baking sector. You can also get the same level of service from Mashreq Bank and Emirates NBD.
Which is better, NBD or ADCB?
The choice comes down to you and your financial needs. NBD does have an impressive customer satisfaction rate and has expanded over the course of time, becoming a service provider to more clients as compared to the ADCB. You can use their websites to delve into the depths, discover the specifics, and do a quick analysis before opening an account.
Which is the largest International Bank in Dubai?
HSBC Middle East is one of the premier and largest banks in the UAE. This bank is also known as the world's top financial institution, providing operations in more than 60 countries. They offer a variety of financial assistance, corporate banking, investment banking, personal, and wealth management services.
Which Bank in the UAE can open an account with a 3000 salary?
Emirates NBD provides assistance to people with different incomes. So, if you have a salary of AED 3000, you can successfully open an account in the NBD.
Which is the Safest Bank in Dubai?
The Emirates National Bank of Dubai is known to be one of the most reliable banks in UAE and outside. They have branches in over 10 countries and extend their services to three continents, ensuring clients' funds are in the right hands.
Signing Up For A Bank in Dubai? Here’s What You Need To Know
Before signing up for a bank, knowing the UAE's top banks is essential. There's a list that can get confusing, but our insight will help you make the right choice. The following are some factors that you must take into consideration when signing up for a bank in Dubai.
Circumstances For International Money Transfers
Being an expat means you might be sending money to your family and loved ones at home. It’s important to check which bank in Dubai facilitates reliable remittance and ensures an affordable transfer process.
Balance Requirement And The Charges
Every bank has its policies, which means the charges and the minimum balance requirement differ. Learning all these tiny details is important to ensure a seamless experience when opening the account.
Online Banking And Other Facilities
It all comes down to your convenience, starting with how close the branch is to your homes or businesses. But for those conducting online transactions, it’s important to have a sturdy working app that is updated and doesn’t have any bugs. It should follow all security protocols to ensure a steady experience for all customers.
Now that you know some crucial factors, keep scrolling to get a sneak peek into the best banks in Dubai for expats. With so many banks to choose from, the choices can be challenging, but make sure to create and commit to a service that’s convenient for you and falls in your category.
Final Thoughts
With the list of banks in Dubai, you now know where you can open your account. We have provided you with all the information that is needed, starting with banks for expats, factors that need to be considered, and a list of the top 10 Banks in UAE for the Emirates. Each bank has its own significant value, making it the leading financial institution in the market.
So read the specifics and walk to the nearest branch or use the helpline and get in touch with a representative to ask all the questions. Use this as an opportunity to see whether the values align with your needs. With our information on some of the Best Banks in Dubai for Expats, you’ll surely get a perspective and understand better.
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