Top International banks in the UAE
UAE is the business hub of the Middle East and home to a prosperous financial sector that catches the attention of investors, entrepreneurs, and multinational firms from around the world. Due to this credibility, the UAE possesses an advanced banking industry. Therefore, banks in the UAE are quick to embrace new developments.
Without any doubt, setting up a business can be an attractive proposal for any entrepreneur because the UAE ranks above the global average job creation rate. Therefore, opening a business account with an international bank in UAE is a strategic step towards a prosperous future.
The international banks in UAE take care of every financial need, such as issuing debit/credit cards, managing your finances, etc. Expats living in the country are also provided utmost care. Bank officials even visit residents in their apartments or offices to facilitate financial transactions.
The ease of banking processes and participation of high-net-worth clients have made the country a safe place where people might go as far as to refer to it as Switzerland of the Middle East. It is expected that more of the world's wealthiest individuals will move their funds to the UAE in the next decade.
In the guide below, we will review the top international banks in UAE and highlight their services, benefits, and the international trade and investment facilities provided by them.
Top International banks in the UAE
There are a total of 26 foreign banks operating in the UAE. Most of them were established before the UAE Central Bank. Seven of these are from the UK, France, and the US, while the rest are from the Middle East, North Africa, and South Asia.
These international banks present a range of services to individuals and businesses in the UAE. They play an important role in helping investors grow and flourish. Consequently, it enables them to live and work in the UAE with peace of mind.
Additionally, these banks also incorporate modern financial management software. With this software, businesses can manage their finances efficiently and make sensible conclusions and decisions.
1. Citibank
Citibank is a renowned name in the banking industry, and its reputation precedes its own. It is renowned as the most reliable and innovative bank with abundant experience. They offer a variety of services, such as banking, personal banking, corporate banking, and investment banking.
Citibank offers a global network with operations in over 100 countries around the world. This type of global presence enables clients to access international markets easily. It helps its private clients with wealth management solutions where investment and financial advice are tailored to their specific goals.
Apart from regular investment products, such as equities, bonds, mutual funds, etc, Citibank also offers Islamic banking products and services. All clients are provided with a dedicated relationship manager who is available for expert advice and support.
Location: Al Wasl branch, Sheikh Rashid Road, next to Wafi City
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 4 3114 4000
Nearby Community :
2. HSBC
The HSBC bank is also one of the leading foreign banks in UAE, and it has a strong presence of outstanding customer service. A team of dedicated professionals is always available to the clients. Its online banking platform is efficient and helps customers manage their accounts from anywhere in the world.
Location: HSBC Tower, Downtown Dubai
Timings: Monday to Friday, 10:00 am to 10:00 pm
Contact: 600554722
3. Standard Chartered
While discussing the top international banks in UAE, one cannot forget to mention The Standard Chartered Bank of Britain. This multinational bank has been in service for 60 years now. It is experienced in providing the usual banking services along with innovative banking solutions. It is a popular choice for socially conscious customers.
Location: Standard Chartered Tower Downtown Dubai
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 600 522 288
4. Barclays
Another British multinational bank, Barclays, has been in service in the UAE since 1971. They are well-known for their outstanding customer service. They offer multiple banking services, and a team of experts is always available to help the clients when needed. With a strong online platform for these services, Barclays allows its customers easy access from anywhere in the world.
Location: Office 109, level 1, The Offices 3, One Central, Dubai World Trade Centre.
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 (0)4 365 3030
5. Emirates NBD
Emirates NBD is based in Dubai, and its existence in UAE is quite well-built. They offer all necessary banking services as their other counterparts. They have worked greatly on innovative banking solutions and have won several awards for their mobile banking app.
With their exceptional customer service and strong reputation, you can trust them to take care of your financial needs. A team of experts is always ready to assist their clients at any time.
Emirates NBD is one of the few banks whose banking services are Shariah-compliant. It also offers estate and succession planning, which helps its clients to distribute wealth properly across generations. These exclusive benefits attract high-net-worth clients in the Middle East to choose Emirates NBD.
Location: Emirates NBD Building – First Al Khail St – Al Barsha 2 – Dubai
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: 600 540000
Nearby Community :
6. Habib Bank AG Zurich
Habib Bank AG Zurich (HBZ) is famous amongst international banks in UAE. It offers a diverse range of banking services, such as personal and commercial banking, trade finance, corporate finance, and wealth management. Apart from the usual services, it also provides Islamic banking services.
The headquarters of HBZ is located in Zurich, Switzerland. However, it has a strong presence in the Middle East and Asia due to its Expertise in banking operations. Its approach is a mix of customer service, innovative banking, and commitment to regulatory compliance.
Location: 367-1013, Umm Al Sheif, Opposite Gold & Diamond Park, Sheikh Zayed Road, P.O. Box 3306, Dubai, U.A.E.
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 4 387 0700
7. The Royal Bank of Canada
The Royal Bank of Canada (RBC) is one of the largest banks in the world. In UAE, it offers a range of financial services, such as personal and commercial banking services, along with investor services, wealth management, and insurance.
Although the headquarters of RBC is in Toronto, Canada, it has many financial centers worldwide. Each of these centers provides its clients with ATM services and much more. RBC is very adaptive in providing advanced digital tools to its clients. This allows customers to conduct business easily from their own homes.
Location: API World Tower, Office 1002, Sheikh Zayed Road, Trade Center First, Dubai, UAE
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 4 331 3196
8. Noor Bank
Noor Bank is an Islamic bank based in the UAE that promotes Shariah-compliant financial services for both personal and commercial banking. It was formerly known as Noor Islamic Bank and was established in 2008. It has a diverse client list, which includes both individuals and large corporations.
Originally, it was based in Abu Dhabi, but it has international branches in the UK, North Africa, and Saudi Arabia. Noor Bank participates in community development and social responsibilities in the UAE. It also highlights digital innovation through advanced online and mobile banking platforms.
Location: Dubai, UAE
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: 04 -4274343
9. Dubai Islamic Bank
Dubai Islamic Bank was the first Islamic bank in the world and one of the largest international banks in the UAE. It has been the leader in Islamic banking, setting finance laws and ethical standards according to Islamic law. Other Islamic banks have followed these practices.
DIB has an extensive retail banking network in the UAE, which serves a large customer base. It also promotes digital banking services to enhance customer experience in the UAE and the rest of the world.
Location: Al Wahda Mall Branch, Abu Dhabi
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 6 519 3562
Nearby Community :
10. Credit Suisse AG
This bank is also on the list of top international banks in the UAE. It is a global wealth manager with headquarters in Zurich. It promotes financial assistance with funds management, acquisition banking, asset management, and retail baking.
Location: ICD Brookfield Place - Level 39 Al Mustaqbal St - Trade Centre - DIFC - Dubai, UAE
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 4 365 7100
11. BNP Paribas Middle East
BNP Bank is also an international bank based in the Middle East. It offers all the regular services a bank provides, such as wealth management, corporate banking, and investment solutions. Along with these services, it also helps to accelerate trade and investment between the Middle East and the rest of the world.
Location: Etihad Tower-3, Level 12, Unit 1201 & 1206, Abu Dhabi, UAE,
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 4 424 8340
12. Arab African International Bank
The Arab African Bank is the largest international bank in the Middle East and Africa. It offers banking and financial services to a variety of clients, including individuals, enterprises, and even government organizations.
Location: Gate Address: Art Tower, Opposite Dubai Customs Al Mina Road.
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: + (9714) 3937773
Banque Libano-Française (BLC)
The BLC bank, established in 1950, stands as the most famous international bank in the UAE. It offers a range of benefits, including personal and commercial banking, assets management, acquisition management, and insurance.
Location: Office 2102, C88 Building, Electra Street, Abu Dhabi, U A E
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 02 6505777
13. Deutsche Bank
Deutsche Bank is a global bank with a strong presence in the UAE. It offers a variety of financial services to corporate clients. It has expertise in investment banking and capital markets, which helps in accelerating the growth of the business.
Location: Gate Village, Building 5, Level 6. Dubai International Financial Centre, Dubai, UAE
Timings: Sunday to Thursday, 09:00 am to 05:00 pm
Contact: +971 4 319 9523
Final thoughts
Dubai is a top spot for businesses to set up banking! It's known as a leading offshore financial center, which means it's friendly to businesses looking for banks. Plus, there are many international banks in Dubai offering all sorts of services, making it a convenient and attractive option.
Here's how to select the best international bank in Dubai for your business needs:
Industry-Specific Expertise: try to look for a bank with a strong track record and experience in dealing with businesses in your sector. Such a bank will have a deeper understanding of your industry's unique financial needs and challenges, enabling them to provide banking solutions that are tailored to your needs.
Strong Reputation in the OFC Market: A bank's reputation in the offshore financial center market is critical. Assess their standing and track record in the market. This involves evaluating their stability, customer service quality, and regulatory compliance.
Competitive Exchange Rates and Fees: Since international businesses often involve cross-border transactions, compare the exchange rates and fees for international transfers offered by different banks. Opt for a bank offering competitive rates and transparent fee structures to minimize transaction costs.
Additional Services: Consider the range of additional services a bank offers that can benefit your business. Services like mobile banking, trade finance solutions, and asset management can provide added convenience and support your business operations effectively.
Ease of Doing Business: Look into factors such as the ease of account opening, the level of digital banking services, and the availability of dedicated support for business clients. A bank that offers a streamlined, customer-friendly approach can save you time and hassle.
Network and Global Reach: If your business requires international reach, consider a bank with a strong global network. This can facilitate easier international transactions and provide access to a wider range of financial services.
If you focus on the key points above, you'll find a Dubai bank that's perfect for your business. They'll not only handle your everyday banking needs, but they can also help your business grow bigger and stronger!
