News DeskSharjah, UAE – Invest Bank has received regulatory approval from the Central Bank of the UAE to open an Islamic banking window, marking a major expansion in the bank’s service offerings.
The new license will allow the Sharjah-based lender to provide Sharia-compliant products and services to both individual and corporate clients, positioning the bank to tap into one of the UAE’s fastest-growing financial segments.
Edris Al Rafi, Chief Executive Officer of Invest Bank, described the move as a “transformational milestone” for the institution.
“Sharia-compliant banking is a vital part of our community, aligning banking activities with Islamic values while promoting economic growth and social welfare,” Al Rafi said.
He added that the approval from the Central Bank underscores confidence in Invest Bank’s ability to deliver “inclusive and customer-focused financial services” that meet high social and economic standards.
The Islamic finance sector in the UAE is forecast to grow at a compound annual rate of 9.15 per cent between 2025 and 2033, according to industry estimates. Invest Bank said it plans to capitalise on this growth by offering a full suite of Islamic products designed to deliver “maximum financial value” to customers.
The bank has formally disclosed the development to the Abu Dhabi Securities Exchange (ADX), confirming that its Islamic services will soon be available to retail and business clients.
The launch of the Islamic window comes amid rising demand for ethical and Sharia-aligned banking options across the country, as both conventional and Islamic lenders race to expand their offerings in the segment.
