Dubai Islamic Bank Business Account

As per Forbes Middle East, Dubai Islamic Bank has ranked 15th in the top hundred companies in the Middle East in 2021. The bank officially started functioning in the year 1975 and has contributed to the financial development of individuals and companies under its umbrella. Dubai Islamic Bank has designed its business account to benefit the growing companies in today’s fast changing corporate environment.

The Dubai Islamic Bank offers four business account packages fabricated to serve all kinds of needs for a business. Each of the DIB Business Accounts is loaded with unique features & benefits, allowing the business owners to manage their finances efficiently and achieve their business goals.

Types of Business Accounts in Dubai Islamic Bank

DIB offers four types of business accounts as mentioned below, and the customer has the freedom to choose the business account as per their requirement subject to fulfilling certain criteria. 

1. DIB e-Trader Business Account
2. DIB Al Islami Business Account Plus
3. DIB Al Islami Business Account Premium
4. DIB Al Islami Business Account Infinite

Features & Benefits of Dubai Islamic Bank Business Account

DIB Business Accounts are versatile, offering a wide range of banking services and benefits to the account holders. Following are the key features & benefits of the DIB Business Accounts:

DIB e-Trader Business Account

Dubai Islamic Bank comes up with exclusive benefits on e-Trader Business Account. The account has been brought up in association with Dubai Economy (DED) and is very much suitable for a social media or online entrepreneur holding a license from DED. This account offers you an attractive set of privileges.

• No Minimum Balance Required - There is no minimum balance criterion to open a DIB e-trader business account.
• No Annual Fee for 1st Year - Dubai Islamic Bank does not charge any annual fee on the maintenance of the e-trader business account for the first year.
• Visa Debit Card Facility - The e-Trader Business Account comes up with an internationally recognised Visa Debit Card that can be used to access funds across all Dubai Islamic Bank ATMs.
• Fee Waiver on Full Access to Al Islami Business Online Account - Dubai Islamic Bank offers a fee waiver to its customers who require full access to Al Islami Business Online Account.

Al Islami Business Account Plus

DIB Al Islami Business Account Plus is especially designed for day-to-day business. It comes up with an online banking facility, a free chequebook (one free chequebook) and SMS alerts for transactions.

• Easy Accessibility: The account holders can enjoy the convenience of an extensive network of 66 DIB branches located in the UAE.
• Banking Privileges: The account holders can enjoy a world-class banking experience. In addition to this, they can avail of round the clock access to cash deposit facilities at any of DIB’s branches.
• Transactions: Account holders of the DIB Al Islami Business Account can avail of four free teller transactions in a month. After that, they need to pay AED 10 per transaction.
• Chequebook: With the Business Account Plus offered by DIB, the account holders get a free chequebook (only the first one). Thereafter, the account holders have to pay an additional chequebook issuance fee.

Al Islami Business Account Premium

DIB Al Islami Business Account Premium is also fabricated for daily business operations. In addition, it also comes with added benefits and privileges for the customers. The account offers online access to funds along with a free chequebook. 

• Transactions - Dubai Islamic Bank offers 10 free online Telex transactions within UAE. In addition, 10 free teller transactions are also allowed with Al Islami Business Account Premium.
• Dedicated Relationship Manager - DIB offers a dedicated Relationship Manager with its Al Islami Account Premium, who advises and assists as per the customer’s banking needs.
• Options for Wakala and Term Deposits - The Al Islami Business Account Premium comes up with an option for Wakala and Term Deposits in case the businesses require long-term profit-making deposits. 
• Rewards and Offers - Earn Wla’a Rewards 1.5x on average account balance and online transactions with DIB Al Islami Business Account Premium. Additionally, discounts are also provided on all partner services. 

Al Islami Business Account Infinite

Dubai Al Islami Business Account Infinite is an upgraded version of Al Islami Business Account Premium where the benefits and privileges are increased and it focuses on the quick growth of the business.

• Transactions - Dubai Islamic Bank offers up to 15 free Telex transactions through online banking within UAE and 15 free teller transactions with Al Islami Business Account Infinite.
• Dedicated Relationship Manager - DIB offers a dedicated Relationship Manager with its Al Islami Account Infinite, who advises and assists customers as per their banking needs.
• Options for Wakala and Term Deposits - The Al Islami Business Account Infinite comes up with an option for Wakala and Term Deposits in case the businesses require long-term profit-making deposits.
• Rewards and Offers - Earn Wala’a Rewards 2x on average account balance and online transactions with DIB Al Islami Business Account Infinite. Additionally, discounts are also provided on all partner services. 

Eligibility Criteria to Open Dubai Islamic Bank Business Account in UAE

In order to open the DIB Business Account, the applicant will need to satisfy certain eligibility criteria such as minimum average balance and furnishing of required documents as mentioned below.

Documents Required to Open Dubai Islamic Bank Business Account in UAE

At the time of account opening, the individuals will be required to furnish the documents as per the requirement of the bank. The applicant needs to submit the following documents to open a business account with Dubai Islamic Bank:

• A Valid Passport/ Resident Visa (original)
• Organisations, companies & Government bodies will also be required to submit specific & relevant documents at the time of application as per the requirement of the bank.

How to Open a Dubai Islamic Bank Business Account in the UAE?

Dubai Islamic Bank offers an easy and convenient account opening process that can be done through online and offline applications. Interested people can open a DIB Business Account in any of the below-mentioned ways:

Online

To open a business account with Dubai Islamic Bank, the applicants can visit the bank’s official website and apply for the bank account they wish to open.

Offline

Another convenient option for opening a DIB Business Account is visiting the nearby branch of Dubai Islamic Bank. The applicants need to carry the required documents & submit them along with the account opening form.

How to Close Dubai Islamic Bank Business Account in the UAE?

If an account holder wishes to close his/her DIB Business Account, the following steps are required to be taken:

• The account holder should provide a written statement of his/her request to close the business account. This can be done by taking an account closure form from the nearby branch of Dubai Islamic Bank. The form must be filled accurately and include the account holder’s name, mobile number, account number, etc.
• The form must be signed by the account holder and submitted to the bank.
• When submitting the account closure form, the account holder will also have to submit their debit card and chequebook to the bank.
• The account holder will then have to submit some required documents such as address proof & identity proof.
• After the above-mentioned documents are submitted successfully, the bank will begin the account closing process.

Dubai Islamic Bank Business Accounts FAQs

Q1: What is the minimum monthly average balance required to maintain on the DIB Business Accounts?

Ans: You need to maintain a minimum monthly average balance on all the business accounts offered by the Dubai Islamic Bank. However, it varies from account to account. Following is the minimum average balance required for each of the DIB Business Accounts:

Q2: Do I need to pay an account maintenance fee?

Ans: Well, yes, you need to pay an account maintenance fee per month if you fail to maintain a minimum monthly average balance required for each of the DIB Business Accounts. Here is the account maintenance fee:

Q3: Can I open a DIB Business Account online?

Ans: Yes, of course. Dubai Islamic Bank business accounts can easily be opened online by going through the bank’s official website and filling in the required details.

Q4: What documents are required to open a DIB Business Account?

Ans: To open a bank account, two basic document proofs, i.e. identity proof and address proof, have to be submitted. An individual is required to furnish an original passport/resident visa to open the Dubai Islamic Bank business account. Additional documents might be required for submission as per the sole discretion of the bank.

Q5: Is my personal information safe & secured with Dubai Islamic Bank?

Ans: Yes, your personal information is absolutely safe & secured with Dubai Islamic Bank.

Q6: How many business accounts are offered by the Dubai Islamic Bank?

Ans: The bank offers four business account packages. – DIB e-Trader Business Account, AI Islami Business Account Plus, Business Account Premium & Business Account Infinite.

Q7: What is the additional chequebook issuance fee?

Ans: Here is the additional chequebook issuance fee (50 leaves):