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Sharjah Islamic Bank opens Priority Banking Centre in Abu Dhabi

Abu Dhabi, 05 October 2011: HE Mohammed Abdullah, CEO of Sharjah Islamic Bank ( SIB ) has opened the bank's Priority Banking Centre on Sheikh Zayed the First Street (Electra Road) in the downtown area of the UAE's capital city of Abu Dhabi.

The opening, which took place recently, brought the number of priority banking branches to three, with the other two being located in Shrajah - one at the bank's headquarters and one at the Buhaira Corniche branch. It was attended by SIB Head of Corporate Banking Group, Rahma Al Shamsi; Head of Retail Banking Group, Jassem Al Baloushi; Head of Wealth Management, Abdullah Al Owais; and Head of Priority Banking, Nidal Hamoud; as well as a number of directors and bank officials.

Operating under the umbrella of SIB 's Wealth Management Division, the new Priority Banking Centre aims to facilitate the provision of banking services and products to the bank's VIP clients while offering them a range of flexible, value-added services and a host of facilities, discounts and promotions on various SIB banking products, as well as a number of privileges that are tailored to best serve the needs of this particular group of clients.

Speaking at the opening, Mr Abdullah said, "The ideal investment climate in Abu Dhabi, coupled with the UAE's solid legal infrastructure for banking activities, prompted us to open SIB 's third Priority Banking Centre. This step is in line with our desire to provide more high-quality services to our VIP clientele in Abu Dhabi, and is consistent with our strategy of expanding the priority banking services to our various branches so as to increase the value we offer to VIP clients".

"Islamic banking in the region is seeing noticeable demand-driven growth and increasing consumer confidence due to the high quality and flexibility of Shari'a-compliant banking products, which also help ensure safe asset- and wealth management. This demand is spurring major expansion in banking services and opening up new vistas for future banking projects," he continued.

Following the opening of the Abu Dhabi Priority Banking Centre, the CEO made a tour of the bank's offices and departments and listened to employees speak about the nature of their work and the quality of services rendered to VIP clients. He urged SIB employees to provide clients with the fastest and most accurate services possible in order to better the bank's reputation and respond to the requirements of the overall growth in the country.

-Ends-

About SIB
Sharjah Islamic Bank , formerly known as National Bank of Sharjah, was founded by an Amiri decree issued by H.H. Dr. Sultan Bin Mohammed Al Qassimi, Member of the Supreme Council, and Ruler of Sharjah, to provide commercial banking services to firms and individuals. Originally a conventional bank, Sharjah Islamic Bank became the first in the world to convert successfully to Islamic banking in 2002. Since then, all operating systems and procedures have been modified to facilitate this conversion and all employees trained in Islamic banking.

For more information, please contact:
Serine Srouji
SAHARA Communications
Tel: +971 4 3298996
Fax: +971 4 3298995
Mob: +971 50 3286188
Email: serin@saharagcc.com
Website: www.saharagcc.com

© Press Release 2011