Dubai Islamic Bank
Info CheckedCurrency Exchange & Money Transfer
Various, Dubai
About
Dubai Islamic Bank (DIB) is the world's first full-service Islamic bank, established in 1975. As one of the largest Islamic financial institutions globally, DIB offers Sharia-compliant foreign exchange services to its extensive customer base across the UAE. The bank's FX operations are structured to comply with Islamic finance principles, avoiding interest-based transactions while providing competitive currency exchange and international transfer services.
Key Services
DIB provides Sharia-compliant foreign currency exchange, international wire transfers, multi-currency accounts, and FX-linked structured products. The bank's Al Islami online banking and mobile app enable customers to execute currency conversions and international transfers digitally. For property buyers, DIB offers the unique advantage of combining Sharia-compliant FX services with Islamic home finance products, providing a fully halal solution for purchasing property in Dubai. The bank's corporate treasury desk serves businesses with hedging solutions and bulk FX requirements structured in compliance with Islamic finance standards.
Why Choose Dubai Islamic Bank
For customers seeking Sharia-compliant financial services, DIB is the natural choice for currency exchange and international transfers. The bank's Islamic home finance division can coordinate with the FX desk to provide a seamless, fully compliant property purchase experience. DIB's extensive UAE branch network, including dedicated premium banking centres, ensures accessibility for all customer segments. The bank's strong capital position and government backing provide additional confidence for customers making large-value FX transactions related to property investments.
Services Offered
Key services Dubai Islamic Bank provides for currency exchange & money transfer clients in Dubai:
Why Choose Dubai Islamic Bank
- The world's first full-service Islamic bank, established in Dubai in 1975, moving funds directly through its own regulated banking infrastructure rather than as a money-transfer agent.
- International Fund Transfer sends money worldwide over the SWIFT network (SWIFT code DUIBAEAD), suitable for cross-border payments including property-related transfers from a DIB account.
- Transfers can be initiated entirely through the alt online, alt mobile and alt business online digital channels, with international transfers free via alt online and alt mobile (correspondent bank charges may still apply).
- DIB Express Transfer offers expedited transfers on specific corridors (India, Pakistan, Jordan and the Philippines).
- Licensed and regulated by the Central Bank of the UAE, with all activity Sharia-compliant under the bank's Internal Sharia Supervision Committee.
- One of the largest banks in the UAE by assets, with a nationwide branch network for in-person support.
How Dubai Islamic Bank Works
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1
Hold a DIB account
International transfers are made from your Dubai Islamic Bank account; open an account or use your existing one to fund the transfer.
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2
Log in to alt online or alt mobile
Sign in to the alt online or alt mobile digital banking channel and open the Transfers menu.
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3
Select International Fund Transfer
Choose the International Fund Transfer option and enter or select the beneficiary's bank details (including SWIFT/IBAN of the receiving bank).
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4
Review and submit
Confirm the amount, currency and beneficiary details, then review and submit. Funds are wired over SWIFT to the destination bank.
Business Profile
Hours and pricing may change — confirm directly with the business before engaging.
Licenses & Certifications
Licenses and certifications are subject to renewal. Verify current status with the issuing authority before engagement.
Frequently Asked Questions
Can I use Dubai Islamic Bank to transfer money for a Dubai property purchase?
DIB offers International Fund Transfer and domestic transfers from your DIB account, which can be used to send funds for property-related payments. As a bank (not an exchange house), transfers are made from your account over the SWIFT network or to any UAE account; for a specific developer or escrow payment, confirm the exact beneficiary bank details and any limits with DIB before sending.
How do I send a large sum to a Dubai developer or escrow account through DIB?
You initiate a transfer from your DIB account through alt online, alt mobile or alt business online (for domestic UAE payments) or via International Fund Transfer for cross-border payments. You enter the beneficiary bank details and the amount, then review and submit. Large or first-time transfers may be subject to additional verification, so check requirements and any transaction limits with the bank.
Is Dubai Islamic Bank an exchange house?
No. DIB is a licensed bank, not an exchange house. It provides international and domestic fund transfers, foreign-currency exchange on transfers and Sharia-compliant accounts as part of its banking services, regulated by the Central Bank of the UAE.
Is Dubai Islamic Bank regulated by the Central Bank of the UAE?
Yes. DIB is a bank licensed and regulated by the Central Bank of the UAE (CBUAE), and all of its activity is Sharia-compliant under the bank's Internal Sharia Supervision Committee.
What is DIB's SWIFT code for receiving an international transfer?
Dubai Islamic Bank's SWIFT/BIC code is DUIBAEAD (the head-office code, also written DUIBAEADXXX). Anyone sending an international transfer to a DIB account will need this code together with the account holder's IBAN.
How do I make an international transfer with DIB?
Log in to alt online or alt mobile, open the Transfers menu, select International Fund Transfer, enter or select the beneficiary details, then review and submit. The funds are wired over SWIFT to the destination bank.
Does DIB offer faster transfers to certain countries?
Yes. DIB Express Transfer provides expedited transfers on specific corridors, including India, Pakistan, Jordan and the Philippines. General international transfers worldwide are handled through the standard International Fund Transfer service over SWIFT.
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