An Islamic bank account is essential for managing your personal finances while living in Dubai and Mashreq Bank is one of the best banks that can serve you very well if you open such an account with them.
The Islamic bank industry has expanded rapidly over the last decade, growing at the rate of 15%.
If you don’t want to create an account at Mashreq Bank check out the List of Banks in Dubai and their classifications.
Numerous foreign and local banks have entered the Shariah-compliant financial sector by creating Islamic divisions and wings inside their current banking systems as a result of the expanding advantages of Islamic banking.
Maybe you’re moving to Dubai to work or study, opening a Dubai business, or are a regular visitor who needs ways to hold, receive, send, and spend dollars easily. Opening an Islamic bank account in Dubai should be pretty easy as long as you have all the right documents to hand.
To see all the bank’s branches go to this page Mashreq Bank Branches or you can just check out Credit Cards offered by Mashreq Bank.
If you want details on How to Open a Mashreq Bank Account Online and to know more about their accounts check out the Types of accounts offered by Mashreq Bank.
This guide walks through everything you normally need to open an Islamic bank account at Mashreq Bank.
If you love banking from the convenience of your home then you should see how you can register for internet banking.
To open a savings account, click here, but if it is a current account, check it out here; if it is an Islamic bank account you want to see how to create an Islamic Bank Account.
Requirements to Open an Islamic Bank Account at Mashreq Bank
To open an Islamic bank account you need to have these documents at hand.
- Passport (for non-residents) or Emirates ID (for residents)
- A minimum balance of AED 5,000
- You must be over 18years old
Now that you have seen the documents that are required to open a bank account, we should look at the process involved in creating the Islamic Account.
If you using an Android device it is best you check out the How to Download and Register for the Mashreq Bank mobile banking app on Android but if you are using an iPhone you can check out How to Download and Register for the Mashreq Bank mobile banking app on iPhone.
4 steps to Open an Islamic Bank Account at Mashreq Bank
- Step 1: You must first research and compare the different Islamic accounts to find one that offers the services and benefits you need.
- Step 2: You can either visit the bank branch or apply online. To apply online check out https://www.mashreqalislami.com/en/uae/neo/accounts/current-accounts/islamic-current-account/
- Step 3: Assemble and compile the necessary paperwork mentioned above. Confirm that you include all of your names, including your middle and last names, precisely as they appear on your documents.
- Step 4: Following the processing and approval of your application, you will receive a notification with the information of your new account.
You will be able to send money after your bank account has been verified. Additionally, a debit card for cash withdrawals will be provided. Furthermore, you will be able to register for online and phone banking.
If you have any questions, then use the information on this page Mashreq Bank Contact Details to contact the bank.