Contact us | +971 4 3635663
Sponsored by   Mudabala
Middle East Business Information
 
Loading Loading ...
Sun, 05 Jul 2009 | 06:28 GMT

Sharjah Islamic Bank   (SIB.ADSM)
Also known as: SIB
Last Trade
1.01 AED
- 0.98%
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Oct 13, 2008
 
Joint Stock
 
 
Provides Islamic commercial banking services including deposits, loans, and credit cards; asset management services including wealth, fund and portfolio management; investment banking services including corporate finance and investment advisory on mergers and acquisitions, initial public offering, underwriting.
National Bank of Sharjah until February 2005
1975
764 Company, 207 Headquarters (As of Oct 10, 2008)
86
Labbayk
Shahadati
Tamallak
 
UAE (22)
 
 
 
 
SIB 
Ordinary 
AED 
 
 Key Officers
HH Sultan Bin Mohammed Bin Sultan Al Qassimi
Chairman
Mohammed Abdullah
Chief Executive Officer
 
 Contact Details
Address:
Sharjah Islamic Bank Building
Al Bourj Street
P.O. Box 4
Sharjah
United Arab Emirates
 
+971 6-568-1000
 
+971 6-568-0101
+971 6-568-9915
 
sibmail@sib.ae
 
www.sib.ae
 
www.majandevelopment.com

 
  Latest Headline
"Sharjah Islamic Bank" wins two more prestigious awards  - Press Release
 
  Sukuk Details
Sukuk Name: Sharjah Islamic Bank Sukuk
Type of Structure: Musharaka
Issue Size (mil): USD  225.00
» View Sukuk Profile & Prices
 
  Business Overview
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)Loading... in October 2004.

In April 2005, SIB signed an agreement with Shuaa CapitalShuaa CapitalLoading... to launch Shari'a compliant funds where Shuaa CapitalShuaa CapitalLoading... 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)Loading... 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.
 
 
 Major Shareholders
This Requires Subscription
 Available to subscribers only. Information in this section includes Shareholder Names and their corresponding Holding Percentages. » More Details
 
  Organization Structure and Related Entities 
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Sharjah National Hotels UAE 100.00%
Sharjah Islamic Financial Services UAE 99.00%
Investments
 
Name  Country  Holding
Majan Development Company Oman 10.00%
Bank of Khartoum Sudan 2.22%
Abyaar Real Estate Development Company Kuwait 2.00%
Funds
 
Name  Country  Holding
Al Hisn Property Fund UAE -
Amyal Islamic Leasing Fund UAE -
Central and Eastern European Real Estate Fund UAE -
Tharwa Gold and Precious Metals Fund UAE -
Related Organizations
 
Name  Country  Holding
Accounting and Auditing Organization for Islamic Financial Institutions Bahrain -
 
 
  Representatives
Auditors
 
KPMG
 
Law Firms
Afridi and Angell
Hilal and Associates
 
 
 Summary Financials
This Requires Subscription
 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
Company information provided by © 2009 ABQ Zawya Ltd.
 
 
    
 
 
 
 
 

Site is optimised for viewing at 1024 x 768 with Internet Explorer v6 and Firefox v3.0 and above.
Copyright © 2009 ABQ Zawya Ltd. All rights reserved. Please read our Membership Agreement