Sharjah Islamic Bank

Sharjah Islamic Bank (SIB) provides commercial banking, asset management including wealth, fund and portfolio management, investment banking and brokerage services, according to Shariah principles. It also provides Islamic financing and leasing, real estate property investment and development and hotel and resort operation, through its subsidiaries in the UAE.

The ASAS Real Estate CompanyASAS Real Estate Company (ASAS) is the real estate arm of SIB; Sharjah Islamic Financial ServicesSharjah Islamic Financial Services (SIFS) is the bank’s Islamic brokerage arm; Contact Marketing, is its support services arm; and CORPLEASE UAE, its Islamic financing and leasing arm, which was the result of a joint venture between SIB and Corporate Leasing CompanyCorporate Leasing Company. SIB acquired the Sharjah National HotelsSharjah National Hotels (SNH), in 2006, which includes high end hotels and resorts such as the Marbella Resort, the Holiday International Hotel and the Oceanic Hotel Khorfakkan.

SIB increased its revenues by 152.5% to AED2 billion (USD608 million) and grew its net profits by 2.4% to AED266 million (USD73 million), in 2010.