Banks in Jumeirah

A popular waterfront community in Dubai, Jumeirah offers residents an exuberant lifestyle in addition to a host of conveniences. Among these conveniences, having banks in close proximity is one of the many advantages of the area. If you are like most people, your bank plays a sizeable part in helping you manage your personal finances. However, choosing the best bank isn’t always easy and what may be best for one person may not be best for you. Everything from ATM fees to interest rates, online banking options and minimum balance requirements have an impact on the type of bank you choose. Fortunately, when it comes to banks in Jumeirah, residents are spoilt for choice. Which one is perfect for you? A review of available banks in the community will make your choice easier:

Top banks in Jumeirah Area

If you have just moved to Jumeirah or are thinking of changing banks, here are a couple nearby worth considering:

Abu Dhabi Islamic Bank (ADIB)

Located on Jumeirah Beach road, the Abu Dhabi Islamic bank is considered a popular financial institution for online banking in Dubai. The Global Finance Magazine gave it an award for Best Islamic Digital Bank in the Middle East for 2019. In addition to the superior digital services on offer, you can also avail of 24/7 phone, mobile, SMS banking services and other perks. For example, an ADIB Visa Card allows account holders to enjoy up to 20% discount at Madame Tussauds in London. For information on additional services, refer to the following details:

• Location: Mohamed Ali Al Muhairi Building, Jumeirah Beach Road,

Dubai Islamic Bank (DIB)

Open from 08:00 am to 02:00 pm, the ladies branch of the Dubai Islamic Bank offers Personal Banking services like Internet Banking. The bank offers three types of credit card variants — Infinite, Signature and Platinum. The Infinite Credit Card from DIB has a minimum salary requirement of AED 35,000 while the Signature has a minimum requirement of AED 15,000. Other services offered include auto and home financing options as well as others. 

• Location: Jumeirah (Ladies Branch)

Al Masraf Bank

With several branches in Dubai and the rest of the UAE, Al Masraf bank deserves a spot in our list of top banks in Jumeirah. Established in 1975, Al Masraf bank was created as a means to instil cooperation between the UAE and other countries and to promote joint economic ventures. Specialising in financing business and startups as well as corporate expansions, Al Masraf is an ideal choice for entrepreneurs and business owners whose place of work is near Jumeirah. As for the consumer banking side of things, residents have access to Islamic banking services with fully compliant Shari’ah financial solutions offered. Shari’ah compliant services cover everything from personal banking to corporate and trade financing.

• Location: First – Main Jumeirah Road, Umm Suqeim, Dubai

Ajman Bank

A fairly young financial institution established in 2007, Ajman Bank was the first Islamic bank to be incorporated into the Emirate of Ajman. Now, it has several branches across the UAE with one in Jumeirah as well. Consumer banking services offered here include Term Deposits, Payroll Accounts, Current Accounts and Savings Accounts. Additionally, regular consumers can also benefit from the bank’s Family Takaful Services which offers customized plans for covering specific needs like making up for lost income, paying for a child’s education or clearing home mortgages. Other services offered include Investment Banking and Wholesale Banking with products ranging from Auto Loans to Payroll and 2 in 1 Account. 

• Location: Jumeirah No. 3, Jumeirah

Emirates Islamic

Next up on MyBayut’s list of banks in Jumeirah Dubai is Emirates Islamic. Formerly known as Emirates Islamic Bank, Emirates Islamic was launched in the early 2000s. In addition to common services, like SMS banking and locker facilities, the bank offers WhatsApp banking which allows holders to carry out basic banking requirements, like cheque book requests and balance checks, on the go. One of the many special services offered includes the Skywards Infinite Visa Card. Reserved for select account holders, this card allows travel perks such as unlimited complimentary access to around 900 airport lounges with a guest and up to 2 Skywards Miles per USD spent.

• Location: Umm Suqeim Area, Near Jumeirah Beach Park, Villa ‘A’ – Jumeirah Beach Road

HSBC

Also one of many banks in Jumeirah, HSBC bank has a branch close to popular residential communities like Al Safa. Considered one of the largest financial services organisations in the world with operations in around 65 countries, HSBC is a go-to bank for many residents and businesses in Jumeirah. HSBC’s Flexible Account services allow customers the benefit of not having to pay their salaries into their accounts or maintain a minimum account balance with up to 10% cashback.

• Location: Al Wasl Road, Opposite Safa Park – Jumeirah

Mashreq Bank

Exemption of taxation for gold purchases is one of the many reasons why people, especially expats, buy gold in Dubai. Those interested in gold investments, therefore, see value in opening an account at Mashreq Bank. Specialising in Gold Banking, the bank allows customers to sell and buy gold online via a Gold Edge Investment Account with the ability to convert their units to cash at any time. Customers are also provided other services to manage gold investments in the form of Shari’ah-compliant wealth management products, Gold Mortgages for residential as well as commercial properties and more.

• Location: Jumeirah Beach Road, adjacent to Manchester Clinic, near the Beach Center

First Abu Dhabi Bank

The product of a merger between the First Gulf Bank and National Bank of Abu Dhabi, the First Abu Dhabi Bank (FAB) offers a range of consumer-friendly services from Personal Loans to Motor and Travel Insurance. A favourite amongst account holders, FAB’s Home Insurance Package comes with a legal liability cover of up to AED 2,000,000, free cover for moving contents while moving homes in the UAE and free emergency alternate accommodations while a home is uninhabitable. Other services offered include Corporate Investment management and Gold Islamic Banking to name a few. 

• Location: Jumeirah Beach Road, Umm Suqeim 1 – Dubai

Samba Financial Group

One of the many banks in Jumeirah, Samba Financial Group was formerly known as the Saudi American Bank. A diverse wealth management platform gives Samba account holders a choice of managing their wealth across different asset classes with help from experienced asset managers. Other services worth noting are those that offer customers easy banking services during travels. For example, the Sambadiamond is an elite banking service that offers a host of exclusive benefits like a free International ATM and credit card in addition to 100% discounts on transactions.

• Location: Jumeirah Beach Road, Umm Sequim 2, Opposite e-Library – Dubai

Al Hilal Bank

Wrapping up our list of banks in the Jumeirah area is Al Hilal Bank. In addition to corporate financial services, this bank offers several options for personal financing too. For example, Savings Accounts allow holders benefits like fully Shari’ah compliant dealings, monthly profit distribution, 24/7 automated banking, personalised free shopping cards, and availability of currencies like AED, SAR, USD, EUR and more. An Al Hilal Bank Savings Account also gives holders a chance to win monthly prizes worth AED 1000 where one winner is selected every month.  

• Location: Al Wasl Road, Jumeirah 3

We hope our review of banks in Jumeirah will help you find a bank that fits your financial requirements and manage your wealth while residing in the area. Also, check out our review of the rest of the banks in Dubai before you make your choice.