Established in 1975, Sharjah Islamic Bank (SIB) provides a range of Islamic Shari'a compliant retail, commercial, corporate, investment and international banking services. Formerly known as National Bank of Sharjah and operating as a conventional bank, SIB converted in 2002 to become the first Islamic bank in Sharjah and adopted the Sharjah Islamic Bank name. It listed its shares on the Abu Dhabi Securities Market (ADSM)Abu Dhabi Securities Market (ADSM) in October 2004.

In April 2005, SIB signed an agreement with Shuaa CapitalShuaa Capital to launch Shari'a compliant funds where Shuaa CapitalShuaa Capital provides the management of trading and sharing of local and international equity funds.

In 2006, SIB acquired Sharjah National Hotel Corporation (SNHC)Sharjah National Hotel Corporation (SNHC) for AED520 million from the Sharjah government. SNHC's portfolio includes high end hotels and resorts such as the Marbella Resort, the Holiday International Hotel and the magnificent Oceanic Hotel in Khorfakkan.

In February 2005, SIB underwent a rights issue that increased its paid up share capital from AED386 million to AED1 billion.

In 2005, SIB was nominated for the IRBC "Excellence in Islamic Finance" award. In 2005 and 2006, SIB received the top UAE financial institution award for straight through payments (STP) given by Wachovia Bank.